Terms Used In Arizona Laws > Title 6 > Chapter 4 > Article 6 - Accounts

• Account: means an individual trust account in the fund that is established as prescribed in this article. See Arizona Laws 15-1871
• Account owner: means the person who enters into a tuition savings agreement pursuant to this article, who is an account owner within the meaning of section 529 of the internal revenue code and who is designated at the time an account is opened as having the right to withdraw monies from the account before the account is disbursed to or for the benefit of the designated beneficiary. See Arizona Laws 15-1871
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Agency contract: means an agreement in which a student athlete authorizes a person to negotiate or solicit a professional sports services contract or an endorsement contract on behalf of the student athlete. See Arizona Laws 15-1762
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Athlete agent: means an individual who enters into an agency contract with a student athlete or, directly or indirectly, recruits or solicits a student athlete to enter into an agency contract. See Arizona Laws 15-1762
• Athletic director: means an individual responsible for administering the overall athletic program of an educational institution or, if an educational institution has separately administered athletic programs for male students and female students, the athletic program for males or the athletic program for females. See Arizona Laws 15-1762
• 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: means the state board of investment. See Arizona Laws 15-1871
• Capital: means share accounts, reserves and undivided earnings. 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 with a disability: means a child with a disability as defined in section 15-761. See Arizona Laws 15-101
• Continuous attendance: means enrollment at an educational institution in this state as a full-time student, as such term is defined by the governing body of the educational institution, for a normal academic year since the beginning of the period for which continuous attendance is claimed. See Arizona Laws 15-1801
• 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
• 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
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• Deposit account: means a balance other than a share account held by a credit union including balances designated as special investment accounts, deposits, certificates of deposit, certificates of indebtedness, demand deposit accounts or other similar names. See Arizona Laws 6-501
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• Designated beneficiary: means a person who qualifies as a designated beneficiary under section 529 of the internal revenue code and, except as provided in section 15-1875, subsections P and Q, with respect to an account, who is designated at the time the account is opened as the person whose qualified higher education expenses are expected to be paid from the account or, if this designated beneficiary is replaced in accordance with section 15-1875, subsections D, E and F, the replacement beneficiary. See Arizona Laws 15-1871
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domicile: means a person's true, fixed and permanent home and place of habitation. See Arizona Laws 15-1801
• Eligible educational institution: means an institution of higher education that qualifies under section 529 of the internal revenue code as an eligible educational institution. See Arizona Laws 15-1871
• Endorsement contract: means an agreement under which a student athlete is employed or receives consideration to use on behalf of the other party any value that the student athlete may generate because of publicity, reputation, following or fame that was obtained because of athletic ability or performance. See Arizona Laws 15-1762
• enrollment: means that a pupil is currently registered in the school district. See Arizona Laws 15-901
• 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}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Financial institution: means the state treasurer's office or any bank, commercial bank, national bank, savings bank, savings and loan association, credit union, insurance company, brokerage firm or other similar entity that is authorized to do business in this state. See Arizona Laws 15-1871
• 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
• Full-time student: means :

  (i) For common schools, a student who is at least six years of age before January 1 of a school year, who has not graduated from the highest grade taught in the school district and who is regularly enrolled in a course of study required by the state board of education. See Arizona Laws 15-901

• Fund: means AZ529, Arizona's education savings plan trust fund that constitutes a public instrumentality of this state and that is established by section 15-1873. See Arizona Laws 15-1871
• 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
• Individual conduct that materially and substantially infringes on the rights of other persons to engage in or listen to expressive activity: means conduct by a person who, with the intent to or the knowledge of doing so, materially and substantially prevents the communication of a message or prevents the transaction of the business of a lawful meeting, gathering or procession by doing any of the following:

  (a) Engaging in fighting or violent or other unlawful behavior. See Arizona Laws 15-1861

• 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
• Intercollegiate sport: means a sport that is played at the collegiate level and for which eligibility requirements for participation by a student athlete are established by a national association for the promotion or regulation of collegiate athletics. See Arizona Laws 15-1762
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Member of the family: means any of the following:

  (a) A son or daughter of a person or a descendant of the son or daughter of the person. See Arizona Laws 15-1871

• Membership share: means a balance held by a credit union and established by a member according to the standards prescribed by the credit union. See Arizona Laws 6-501
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nonqualified withdrawal: means a withdrawal from an account other than one of the following:

  (a) A qualified withdrawal. See Arizona Laws 15-1871

• 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 a person's father or mother, or if one parent has custody, that parent, or if there is no surviving parent or the whereabouts of the parents are unknown, then a guardian of an unemancipated person if there are not circumstances indicating that such guardianship was created primarily for the purpose of conferring the status of an in-state student on such unemancipated person. See Arizona Laws 15-1801
• 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.
• Peace officers: means sheriffs of counties, constables, marshals, policemen of cities and towns, commissioned personnel of the department of public safety, personnel who are employed by the state department of corrections and the department of juvenile corrections and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a multicounty water conservation district and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by community college district governing boards and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the Arizona board of regents and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the governing body of a public airport pursuant to section 28-8426 and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a private postsecondary institution pursuant to section 15-1897 and who have received a certificate from the Arizona peace officer standards and training board and special agents from the office of the attorney general, or of a county attorney, and who have received a certificate from the Arizona peace officer standards and training board. See Arizona Laws 1-215
• Person: means an individual, a corporation, a business trust, an estate, a trust, a partnership, a limited liability company, an association, a joint venture, a government, a governmental subdivision, a government agency, a government instrumentality, a public corporation or any other legal or commercial entity. See Arizona Laws 15-1762
• Person: means an individual, an individual's legal representative or any other legal entity authorized to establish a savings account under section 529 of the internal revenue code and the corresponding regulations. See Arizona Laws 15-1871
• 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
• Plan: means AZ529, Arizona's education savings plan that is established under this article and that constitutes a qualified tuition program as defined in section 529 of the internal revenue code. See Arizona Laws 15-1871
• Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. ^Source:
• Private school: means a nonpublic institution where instruction is imparted. See Arizona Laws 15-101
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Public forum: includes both a traditional public forum, which is any open, outdoor area on the campus of a university or community college, and a designated public forum, which is any facility, building or part of a building that the university or community college has opened to students or student organizations for expression. See Arizona Laws 15-1861
• Qualified withdrawal: means a withdrawal from an account to pay any of the following:

  (a) The qualified higher education expenses of the designated beneficiary of the account, but only if the withdrawal is made in accordance with this article. See Arizona Laws 15-1871

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic format or any other medium and that is retrievable in perceivable form. See Arizona Laws 15-1762
• Reserves: means allocations of retained income and includes regular and special reserves and any allowances for loan losses and investment losses. See Arizona Laws 6-501
• 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
• Share account: means a balance held by a credit union and established by a member according to this chapter, including balances designated as shares, share certificates, share draft accounts and membership shares. See Arizona Laws 6-501
• sister: includes a brother or sister by the half-blood. See Arizona Laws 15-1871
• Student athlete: means an individual who engages in, is eligible to engage in or may be eligible in the future to engage in any intercollegiate sport. See Arizona Laws 15-1762
• 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
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Treasurer: means the state treasurer. See Arizona Laws 15-1871
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• 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.
• Tuition savings agreement: means an agreement between the board, as trustee of the fund, and an account owner that creates an interest in the fund and that provides for participation in the plan. See Arizona Laws 15-1871
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• University: means a university under the jurisdiction of the Arizona board of regents. See Arizona Laws 15-1861
• withdrawals: means students who are formally withdrawn from schools or students who are absent for ten consecutive school days, except for excused absences identified by the department of education. See Arizona Laws 15-901
• Writing: includes printing. See Arizona Laws 1-215