Terms Used In Arizona Laws > Title 10 > Chapter 41 - Investments for Eleemosynary Purposes

• Allegation: something that someone says happened.
• 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 3-661
• 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}
• Court: means the superior court of this state. See Arizona Laws 10-140
• Custodian: means a person, other than a parent or legal guardian, who stands in loco parentis to the child or a person to whom legal custody of the child has been given by order of the juvenile court. See Arizona Laws 8-201
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Department: means the department of child safety. See Arizona Laws 8-201
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Depository institution: means a bank, savings and loan association or trust company whose business is supervised and regulated by an agency of this state or the United States, or an employee, as defined in Title 10, Chapter 1, of any such bank, savings and loan association or trust company while acting within the scope of the employee's employment. See Arizona Laws 44-3101
• Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• 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
• Endowment fund: means an institutional fund or part of an institutional fund that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. See Arizona Laws 10-11801
• Entity: includes a corporation, foreign corporation, not for profit corporation, profit and not for profit unincorporated association, nonprofit corporation, close corporation, corporation sole or limited liability company, a professional corporation, association or limited liability company, a business trust, estate, partnership, registered limited liability partnership, trust or joint venture, two or more persons having a joint or common economic interest, any person other than an individual and a state, the United States and a foreign government. See Arizona Laws 10-140
• 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}
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Gift instrument: means a record or records, including an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund. See Arizona Laws 10-11801
• Governmental subdivision: includes an authority, county, district, municipality and political subdivision. See Arizona Laws 10-140
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• illegal act: means an act or omission that violates any law or any rule having the force of law. See Arizona Laws 44-2121
• Individual: includes the estate of an incompetent or deceased individual. See Arizona Laws 10-140
• Institution: means any of the following:

  (a) A person, other than an individual, organized and operated exclusively for charitable purposes. See Arizona Laws 10-11801

• Institutional fund: means a fund held by an institution exclusively for charitable purposes. See Arizona Laws 10-11801
• Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Arizona Laws 44-3101
• Investment adviser representative: means any partner, officer or director of an investment adviser, any individual who occupies a status or performs functions similar to a partner, officer or director of an investment adviser or any other individual who is employed by or associated with an investment adviser, except clerical or ministerial personnel, and who does any of the following:

  (a) Makes any recommendations or otherwise renders advice regarding securities. See Arizona Laws 44-3101

• Investment company: means any company that is registered under the investment company act of 1940. See Arizona Laws 44-3101
• Issuer: means any person who issues or proposes to issue any security, except:

  (a) With respect to certificates of deposit, voting-trust certificates, collateral-trust certificates, certificates of interest or shares in an unincorporated investment trust, whether or not of the fixed, restricted management or unit type, issuer means the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which such securities are issued. See Arizona Laws 44-1801

• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Open-end company: means a management company that is offering for sale or has outstanding any redeemable security of which it is the issuer. See Arizona Laws 44-3101
• 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 an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Arizona Laws 10-11801
• Person: means an individual, corporation, partnership, association, joint stock company or trust, limited liability company, government or governmental subdivision or agency or any other unincorporated organization. See Arizona Laws 44-1801
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and that is retrievable in perceivable form. See Arizona Laws 10-11801
• Salesman: means an individual, other than a dealer, employed, appointed or authorized by a dealer to sell securities in this state. See Arizona Laws 44-1801
• SEC: means the United States securities and exchange commission. See Arizona Laws 44-1801
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Subpoena: A command to a witness to appear and give testimony.
• Subpoena duces tecum: A command to a witness to produce documents.
• Trade product: means a product which has the appearance, taste, smell, texture or color of, but is not, a real product; which, taken as a whole, bears resemblance to or is in imitation of a real product, or could be mistaken for a real product. See Arizona Laws 3-661
• Trustee: A person or institution holding and administering property in trust.
• Underwriter: means a person who has acquired from an issuer with a view to, or sells for an issuer in connection with, the distribution of any securities or participates or has a direct or indirect participation in such undertaking, or participates or has a participation in the direct or indirect underwriting of such undertaking. See Arizona Laws 44-1801
• Unit investment trust: means an investment company that is organized under a trust indenture, contract of custodianship or agency or similar instrument, that does not have a board of directors and that issues only redeemable securities, each of which represents an undivided interest in a unit of specified securities, but does not include a voting trust. See Arizona Laws 44-3101
• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
• worker: means a person who has been selected by and trained under the requirements prescribed by the department and who assists in carrying out the provisions of this article. See Arizona Laws 8-801