Terms Used In Arizona Laws > Title 44 > Chapter 11 > Article 14 - Discount Buying Services

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Contract: A legal written agreement that becomes binding when signed.
• Contract for discount buying services: means a written contract between one party who is purchasing the service for personal or family use and a discount buying organization by which the buyer for a consideration receives the right to obtain goods or services from the discount buying organization or to utilize the discount buying organization services in obtaining goods and services at discount prices. See Arizona Laws 44-1797
• Control or any beneficial interest: means possession of a financial interest in a discount buying organization sufficient to permit direct influence over the business affairs of the organization or possession of a financial interest in the discount buying organization's equity or debt liability. See Arizona Laws 44-1797
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Director: means the director of the securities division of the commission. See Arizona Laws 44-1801
• Discount prices: means prices which are represented to be lower on most or all offered goods or services than those generally charged for such items in the locality in which the representation is made. See Arizona Laws 44-1797
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• File: when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored. See Arizona Laws 44-1691
• Fraud: Intentional deception resulting in injury to another.
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Moral turpitude: means an offense, whether a misdemeanor or felony, that is related to extortion, burglary, larceny, bribery, embezzlement, robbery, racketeering, money laundering, forgery, fraud, murder, voluntary manslaughter or a sexual offense that requires the individual to register pursuant to section 13-3821. See Arizona Laws 1-215
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• 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.
• organization: means a person, corporation, unincorporated association or other organization that, for a consideration, provides or purports to provide its clients or the clients or members of any other discount buying organization with the ability to purchase goods or services at discount prices, except that such organization does not include:

  (a) A discount buying organization in which the total consideration paid by each client or member in any manner whatsoever for the purchase of discount buying services from such organization does not exceed a one-time fee of fifty dollars or an annual fee of fifty dollars to be paid on a yearly basis. See Arizona Laws 44-1797

• Person: means an individual, partnership, corporation, association, or any other entity of whatever kind or nature. See Arizona Laws 44-1691
• 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
• Pro rata refund: means the actual amount paid for the discount buying services excluding interest, less the product of the actual amount paid for the discount buying services excluding interest multiplied by a fraction, the numerator of which is the number of months the person was a member of the discount buying organization and the denominator of which is thirty. See Arizona Laws 44-1797
• Property: includes both real and personal property. See Arizona Laws 1-215
• Registered mail: includes certified mail. See Arizona Laws 1-215
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• sell: means a sale or any other disposition of a security or interest in a security for value and includes a contract to make such sale or disposition. See Arizona Laws 44-1801
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215