Terms Used In Arizona Laws > Title 6 > Chapter 4 > Article 2 - Formation of Credit Union

• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Automated teller machine: means an automated device that is established by a bank, savings and loan association or credit union and that facilitates customer-bank communications activities, including taking deposits and disbursing cash drawn against a customer's deposit account or a customer's preapproved loan account, at a location separate from the home office or a branch. See Arizona Laws 6-101
• Base: means the revenue level per student count specified by the legislature. See Arizona Laws 15-901
• Base level: means the following amounts plus the percentage increase to the base level as provided in Section 15-902. See Arizona Laws 15-901
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Branch office: means a place of business of a credit union, other than a principal office, at which deposits are received and checks are paid, but does not include premises used for computer operations, recordkeeping, accounting, storage, maintenance or other administrative or service functions. See Arizona Laws 6-501
• Charter school: means a public school established by contract with the state board of education, the state board for charter schools, a university under the jurisdiction of the Arizona board of regents, a community college district or a group of community college districts pursuant to article 8 of this chapter to provide learning that will improve pupil achievement. See Arizona Laws 15-101
• Child: means a person who is at least three years of age by September 1 of the current year but who is under twenty-two years of age. See Arizona Laws 15-1181
• Child with a disability: means a child with a disability as defined in section 15-761. See Arizona Laws 15-101
• 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.
• Course: means organized subject matter in which instruction is offered within a given period of time and for which credit toward promotion, graduation or certification is usually given. See Arizona Laws 15-101
• Course of study: means a list of required and optional subjects to be taught in the schools. See Arizona Laws 15-101
• Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
• Current year: means the fiscal year in which a school district is operating. See Arizona Laws 15-901
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• 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.
• 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.
• Fiscal year: means the year beginning July 1 and ending June 30. See Arizona Laws 15-101
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fund: means the special education fund. See Arizona Laws 15-1181
• Fund: means the special education fund established by section 15-1182. See Arizona Laws 15-1201
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing board: means a body organized for the government and management of the schools within a school district or a county school superintendent in the conduct of an accommodation school. See Arizona Laws 15-101
• 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.
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Institution: means the Arizona state schools for the deaf and the blind, the Arizona training program facilities as provided in section 36-551 and the Arizona state hospital. See Arizona Laws 15-1201
• Insuring organization: means the national credit union administration or successor organization or any other equivalent insurer approved by the deputy director. See Arizona Laws 6-501
• 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: means an agreement for conveyance and possession of real or personal property. See Arizona Laws 15-101
• 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.
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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 any corporation, association, partnership, society, firm, syndicate, trust or other legal entity. See Arizona Laws 6-501
• Parent: means the natural or adoptive parent of a child, the legal guardian of a child, a relative with whom a child resides and who is acting as the parent of that child or a surrogate parent who has been appointed for a child pursuant to Section 15-763. See Arizona Laws 15-1181
• Parent: means the natural or adoptive parent of a child or a person who has custody of a child. See Arizona Laws 15-101
• 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: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• person: means an individual, partnership, corporation, association or public or private organization of any kind. See Arizona Laws 15-101
• placement: means placement of a child in a private residential facility for residential special education placement as defined in section 15-761 or by a state placing agency for care, safety or treatment reasons. See Arizona Laws 15-1181
• placement: means placement of a person in an institution, as defined in this section, for special education only or for special education and residential and custodial care. See Arizona Laws 15-1201
• Private residential facility: means a private facility that is licensed by the department of economic security or department of health services and to which one of the following also applies:

  (a) For special education placements, the facility has been approved by the division of special education pursuant to section 15-765 for the purpose of providing special education and related services. See Arizona Laws 15-1181

• Private school: means a nonpublic institution where instruction is imparted. See Arizona Laws 15-101
• Property: includes both real and personal property. See Arizona Laws 1-215
• public school: means any public institution established for the purposes of offering instruction to pupils in programs for preschool children with disabilities, kindergarten programs or any combination of elementary grades or secondary grades one through twelve. See Arizona Laws 15-101
• Related services: means related services as defined in section 15-761. See Arizona Laws 15-1181
• 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.
• School district: means a political subdivision of this state with geographic boundaries organized for the purpose of the administration, support and maintenance of the public schools or an accommodation school. See Arizona Laws 15-101
• school meal programs: means programs under which meals are served by a public or private school on a nonprofit basis to children in attendance, including a program under which federal assistance is received. See Arizona Laws 15-1151
• Service of process: The service of writs or summonses to the appropriate party.
• Special education: means the adjustment of the environmental factors, modification of the course of study and adaptation of teaching methods, materials and techniques to provide educationally for those children who are at least three but not more than twenty-one years of age and who are gifted or have a disability to such an extent that they do not profit from the regular course of study or need special education services in order to profit. See Arizona Laws 15-1201
• State placing agency: means the department of juvenile corrections, the department of economic security, the department of child safety, the Arizona health care cost containment system or the administrative office of the court. See Arizona Laws 15-1181
• Statute: A law passed by a legislature.
• Subject: means a division or field of organized knowledge, such as English or mathematics, or a selection from an organized body of knowledge for a course or teaching unit, such as the English novel or elementary algebra. See Arizona Laws 15-101
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215