Terms Used In Arizona Laws > Title 41 > Chapter 10 - Arizona Commerce Authority

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arizona basic enterprise: means any enterprise that is located or principally based in this state and that can provide demonstrable evidence that it meets one or more of the following:

  (a) It is primarily engaged in one or more of the Arizona basic industries. See Arizona Laws 41-1545

• Arizona basic industry: means any of the following:

  (a) Manufacturing industries identified by North American industry classification system code sectors 31, 32 and 33. See Arizona Laws 41-1545

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means a corporation organized under this article. See Arizona Laws 10-2001
• Authority: means the Arizona commerce authority. See Arizona Laws 41-1545
• Authority: means the Arizona commerce authority. See Arizona Laws 41-1501
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the board of directors of the authority. See Arizona Laws 41-1501
• 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
• Bylaws: means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which those rules are designated. See Arizona Laws 10-140
• Chief executive officer: means the chief executive officer of the authority. See Arizona Laws 41-1501
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Employer: means an Arizona basic enterprise providing new jobs in conjunction with a project, except that the following do not qualify for the purposes of this article:

  (a) Any corporation, partnership or other entity conducting a business identified by any of the following North American industry classification system code groups, sectors or subsectors:

  (i) Industry group 7132 or 8131. See Arizona Laws 41-1545

• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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}
• Ex officio: Literally, by virtue of one's office.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Full-time: means permanent employment for at least one thousand seven hundred fifty hours per year. See Arizona Laws 41-1545
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantee: includes every person to whom an estate or interest in real property passes, in or by a deed. See Arizona Laws 1-215
• Headquarters: means a principal central administrative office where primary headquarters related functions and services are performed, including financial, personnel, administrative, legal, planning and similar business functions. See Arizona Laws 41-1545
• Joint resolution: A legislative measure which requires the approval of both chambers.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Member: includes members of associations. See Arizona Laws 10-2001
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles of incorporation and bylaws and chapters 24 through 40 of this title. See Arizona Laws 10-3140
• Microenterprise: means any business that is located or principally based in this state and that employs ten or fewer employees. See Arizona Laws 41-1545
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• New job: means full-time employment in a new or expanding Arizona basic enterprise that pays an average annual wage equal to at least one hundred percent of the median wage by county as determined annually by the Arizona commerce authority and includes health insurance for employees for which the employer pays at least sixty-five percent of the premium or membership cost, but not including jobs of recalled workers or existing jobs that are vacant or other jobs that formerly existed in the enterprise in this state. See Arizona Laws 41-1545
• Oversight: Committee review of the activities of a Federal agency or program.
• 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.
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• Primarily engaged: means at least one-half of the gross income of the enterprise is derived from the engagement. See Arizona Laws 41-1545
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
• Writing: includes printing. See Arizona Laws 1-215