Terms Used In Arizona Laws > Title 10 > Chapter 12 - Sale of Assets

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Associate director: means the associate director of the division. See Arizona Laws 3-481
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authorized delegate: means a person that a licensee designates to engage in money transmission on behalf of the licensee. See Arizona Laws 6-1201
• Average daily money transmission liability: means the amount of the licensee's outstanding money transmission obligations at the end of each day in quarters ending March 31, June 30, September 30 and December 31, added together and divided by the total number of days in each quarter. See Arizona Laws 6-1201
• Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated and includes the governing body or bodies of a water users' association if the articles of incorporation of the water users' association provide for a governing body or bodies denominated other than as a board of directors. See Arizona Laws 10-140
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Commission: means the corporation commission. See Arizona Laws 40-201
• Commission merchant: means a person that receives on consignment or solicits from the producer any fruit or vegetable for sale on commission on behalf of the producer or that accepts any fruit or vegetable in trust from the producer for the purpose of resale. See Arizona Laws 3-481
• Container: means a box, carton or lug that is used for packing, shipping or selling fruit or vegetables that are authorized by this article or rules adopted pursuant to this article. See Arizona Laws 3-481
• Contract: A legal written agreement that becomes binding when signed.
• Control: means :

  (a) The power to vote, directly or indirectly, at least twenty-five percent of the outstanding voting shares or voting interests of a licensee or person in control of a licensee. See Arizona Laws 6-1201

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Customer: means the person in whose name a utility service is provided. See Arizona Laws 40-491
• Dealer: means a person that sells, markets or distributes fruit or vegetables that the person purchased from a producer or markets as an agent, broker or commission merchant, except at retail. See Arizona Laws 3-481
• Director: means the director of the residential utility consumer office. See Arizona Laws 40-461
• Distribution: means a direct or indirect transfer of money or other property, except its own shares, or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See Arizona Laws 10-140
• Eligible rating: means a credit rating of any of the three highest rating categories provided by an eligible rating service and each category may include rating category modifiers such as "plus" or "minus" for Standard and Poor's or the equivalent for any other eligible rating service. See Arizona Laws 6-1201
• Eligible rating service: means any nationally recognized statistical rating organization as defined by the United States securities and exchange commission and any other organization designated by the director. See Arizona Laws 6-1201
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Federally insured depository financial institution: means a bank, credit union, savings and loan association, trust company, savings association, savings bank, industrial bank or industrial loan company organized under the laws of the United States or any state of the United States, when the bank, credit union, savings and loan association, trust company, savings association, savings bank, industrial bank or industrial loan company has federally insured deposits. See Arizona Laws 6-1201
• Financial institution: means banks, trust companies, savings and loan associations, credit unions, consumer lenders, international banking facilities and financial institution holding companies under the jurisdiction of the department. See Arizona Laws 6-101
• Individual: means a natural person. See Arizona Laws 6-1201
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Licensee: means a person licensed under this article. See Arizona Laws 6-1201
• Lot: means a unit of identical or similar items that are produced by one person and that are grouped or consolidated in one or more containers for packaging or transporting or a cluster of identical or similar items that are produced by one person and that are included in the same shipping order, bill of lading or other itemized transport order. See Arizona Laws 3-481
• NMLS: means the nationwide multistate licensing system and registry that is developed by a conference of state bank supervisors and the American association of residential mortgage regulators and that is owned and operated by a state regulatory registry for the licensing and registration of persons in financial services industries. See Arizona Laws 6-1201
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Office: means the residential utility consumer office. See Arizona Laws 40-461
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation or other corporate entity identified by the director. See Arizona Laws 6-1201
• Person: means an individual, partnership, firm, association or corporation. See Arizona Laws 40-491
• Person: includes an individual, firm, association, partnership, trust or corporation. See Arizona Laws 3-481
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public service corporation: means a public service corporation as defined in article XV, section 2, Constitution of Arizona except a member-owned nonprofit cooperative corporation. See Arizona Laws 40-461
• Reconnection: means the restoration of utility service to a customer or other person after service has been legally disconnected by the utility. See Arizona Laws 40-491
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Registered mail: includes certified mail. See Arizona Laws 1-215
• Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Arizona Laws 10-140
• Shares: means the units into which the proprietary interests in a corporation are divided. See Arizona Laws 10-140
• Shipper: means a person that ships, transports, sells or markets fruit or vegetables under the person's registered trademark or label or a person that first markets the fruit or vegetables on behalf of the producer. See Arizona Laws 3-481
• Statute: A law passed by a legislature.
• tampering: means any of the following if committed against property that is owned or operated by the utility for transmission or distribution:

  (a) Rearranging, damaging, altering, interfering with or otherwise preventing the performance of a normal or customary function of utility property. See Arizona Laws 40-491

• Telegraph line: includes all property used in connection with communication by telegraph for compensation with or without the use of transmission wires. See Arizona Laws 40-201
• Telephone line: includes all property used in connection with communication by telephone, for compensation, with or without the use of transmission wires. See Arizona Laws 40-201
• Utility: means any public service corporation, licensed cable television system or video service network, telephone line or telegraph line corporation or person engaged in the generation, transmission or delivery of electricity, gas, telephone, cable television, telegraph or water service, including this state or any political subdivision or agency of this state. See Arizona Laws 40-491
• Utility service: means the provision of services or commodities by the utility for compensation. See Arizona Laws 40-491
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
• Writing: includes printing. See Arizona Laws 1-215