Sections
Article 1 Arizona Convention Center Development Fund 9-601 – 9-605
Article 2 Development 9-621 – 9-626

Terms Used In Arizona Laws > Title 9 > Chapter 6

  • Affiliate: means an entity which directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with the entity specified. See Arizona Laws 6-941
  • 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.
  • Amortization: Paying off a loan by regular installments.
  • Appraisal: A determination of property value.
  • 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 citrus, fruit and vegetable division of the department. See Arizona Laws 3-441
  • Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
  • 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.
  • Bond: means any bond, note, warrant, lease, lease purchase agreement or other interest bearing obligation issued pursuant to any provision of law by this state or any political subdivision. See Arizona Laws 35-511
  • Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
  • citrus fruit: means the fruit of any orange, lemon, lime, grapefruit, tangerine, kumquat or other citrus tree that produces edible citrus fruit suitable for human consumption. See Arizona Laws 3-441
  • Commercial mortgage broker: means a person who for compensation or in the expectation of compensation either directly or indirectly makes, negotiates or offers to make or negotiate a commercial mortgage loan. See Arizona Laws 6-901
  • Commission merchant: means a person that receives on consignment or solicits from the producer any citrus fruit for sale on commission on behalf of the producer or accepts any citrus fruit in trust from the producer for the purpose of resale. See Arizona Laws 3-441
  • Compensation: means anything of value or any benefit, including points, commissions, bonuses, referral fees, loan origination fees and other similar fees but excluding periodic interest resulting from the application of the note rate of interest to the outstanding principal balance remaining unpaid from time to time. See Arizona Laws 6-901
  • Compensation: means anything of value or any benefit including points, commissions, bonuses, referral fees, loan origination fees and other similar fees but excluding periodic interest resulting from the application of the note rate of interest to the outstanding principal balance remaining unpaid from time to time. See Arizona Laws 6-941
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: means any corporation organized as an authority as provided in this chapter. See Arizona Laws 35-701
  • Corporation: means any pollution control corporation incorporated by a municipality or county pursuant to the provisions of this chapter. See Arizona Laws 35-801
  • county: means the Arizona finance authority, the Arizona board of regents or any incorporated city or town, including charter cities, or any county in this state in which a corporation may be organized and in which it is contemplated the corporation will function. See Arizona Laws 35-701
  • County: means any county in this state in which a corporation may be organized and in which it is contemplated the corporation will function. See Arizona Laws 35-801
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the department of financial institutions. See Arizona Laws 6-101
  • Dependent: A person dependent for support upon another.
  • Educational institution: means a university under the jurisdiction of the Arizona board of regents, a community college in this state, an accredited private postsecondary institution eligible under title IV of the higher education act of 1965 licensed by this state and any other accredited institution eligible under title IV of the higher education act of 1965 offering postsecondary education or courses, whether located within or outside of the boundaries of this state, that awards any eligible degree. See Arizona Laws 35-771
  • Eligible degree: means any postsecondary degree or program. See Arizona Laws 35-771
  • Eligible lender: means an entity affiliated or contracting with a corporation or a qualified educational institution that may make student loans to eligible students or to the parents of eligible students or a nonprofit entity that is exempt from taxation under section 501(c)(3) of the internal revenue code and that makes student loans. See Arizona Laws 35-771
  • Eligible student: means any student attending any qualified educational institution and any resident of this state attending any educational institution. See Arizona Laws 35-771
  • Enterprise: means any person under the jurisdiction of the department other than a financial institution. See Arizona Laws 6-101
  • 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
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Federal deposit insurance corporation: includes any successor to the corporation or other agency or instrumentality of the United States that undertakes to discharge the purposes of the corporation. See Arizona Laws 6-101
  • Financial institution: means banks, trust companies, savings and loan associations, credit unions, consumer lenders, international banking facilities and financial institution holding companies under the jurisdiction of the department. See Arizona Laws 6-101
  • 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
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governing body: means :

    (a) The board or body in which the general legislative powers of the municipality or the county are vested. See Arizona Laws 35-701

  • Governing body: means the board or body in which the general powers of the municipality or the county are vested. See Arizona Laws 35-801
  • 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.
  • Income: means gross earnings from wages, salary, commissions, bonuses or tips from all jobs, net earnings from such person's or family's own nonfarm business, professional practice or partnership, and net earnings from such person's or family's own farm. See Arizona Laws 35-701
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Investor: means a person who lends or invests money in mortgage loans. See Arizona Laws 6-901
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • 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.
  • Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
  • 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
  • License: means a license issued under this article. See Arizona Laws 6-901
  • License: means a license issued under this article. See Arizona Laws 6-941
  • Licensee: means a person licensed under this article. See Arizona Laws 6-901
  • Licensee: means a person licensed under this article. See Arizona Laws 6-941
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lot: means a unit of identical or similar items that are grouped or consolidated in one or more containers for packaging or transporting or a cluster of identical or similar items that are included in the same shipping order, bill of lading or other itemized transport order. See Arizona Laws 3-441
  • Manufactured house: means a structure that is manufactured in a factory after June 15, 1976, that is delivered to a homesite in more than one section and that is placed on a permanent foundation. See Arizona Laws 35-701
  • Minor: means a person under the age of eighteen years. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage banker: means a person who is not exempt under section 6-942 and who for compensation or in the expectation of compensation either directly or indirectly makes, negotiates or offers to make or negotiate a mortgage banking loan or a mortgage loan. See Arizona Laws 6-941
  • Mortgage banking loan: means a loan which is funded exclusively from the mortgage banker's own resources, which is directly or indirectly secured by a mortgage or deed of trust or any lien interest on real estate located in this state and which is created with the consent of the owner of the real property. See Arizona Laws 6-941
  • Mortgage broker: means a person who is not exempt under section 6-902 and who for compensation or in the expectation of compensation either directly or indirectly makes, negotiates or offers to make or negotiate a mortgage loan. See Arizona Laws 6-901
  • Mortgage loan: means a loan secured by a mortgage or deed of trust or any lien interest on real estate located in this state created with the consent of the owner of the real estate. See Arizona Laws 6-901
  • Mortgage loan: means any loan, other than a mortgage banking loan, secured by a mortgage or deed of trust or any lien interest on real estate located in this state and created with the consent of the owner of the real estate. See Arizona Laws 6-941
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgage loan closing: means the day by which all documents relating to the mortgage loan have been executed and recorded and all monies have been accounted for under the terms of the escrow instructions. See Arizona Laws 6-901
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipality: means any incorporated city or town, including charter cities, in this state in which a corporation may be organized and in which it is contemplated the corporation will function. See Arizona Laws 35-801
  • 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
  • National credit union administration: includes any successor to the organization or other agency or instrumentality of the United States that undertakes to discharge the purposes of the organization. See Arizona Laws 6-101
  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • own resources: means any of the following:

    (a) Cash, corporate capital, warehouse credit lines at commercial banks, savings banks or savings and loan associations or other sources that are liability items on the mortgage banker's financial statements for which its assets are pledged. See Arizona Laws 6-941

  • Parent: means a student's mother, father, adoptive parent, grandparent or guardian or any person with the duty and authority to make important decisions in matters having a permanent effect on the life and development of a student and to be concerned about the student's general welfare. See Arizona Laws 35-771
  • Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
  • Person: includes an individual, firm, association, partnership, trust or corporation. See Arizona Laws 3-441
  • Persons of low and moderate income: means , for the purposes of financing owner-occupied single family dwelling units in areas that the municipality has found, pursuant to section 36-1479, to be slum or blighted areas, as defined in section 36-1471, persons and families whose income does not exceed two and one-half times the median family income of this state. See Arizona Laws 35-701
  • Political subdivision: means city, town, county, school district, community college district, multi-county water conservation district, agriculture improvement district, industrial development authority, pollution control corporation, special taxing district in title 48 and any other agency, instrumentality, municipal corporation or other entity created by a law of this state which has the power to issue bonds. See Arizona Laws 35-511
  • Pollution control facilities: means real and personal properties including but not limited to machinery and equipment, whether or not now in existence or under construction, which are used in whole or in part to control, prevent, abate, alter, dispose or store, solid waste, thermal, noise, atmospheric or water pollutants, contaminants or products therefrom, whether such facilities serve one or more purposes or functions in addition to controlling, preventing, abating, altering, disposing or storing such pollutants, contaminants or the products therefrom. See Arizona Laws 35-801
  • Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
  • Producer: means a person that is engaged in this state in the business of producing or causing citrus fruit to be produced for market in commercial quantities. See Arizona Laws 3-441
  • Project: means any land, any building or any other improvement and all real and personal properties, including machinery and equipment whether or not now in existence or under construction and whether located within or without this state or the municipality or county approving the formation of the corporation, that are suitable for any of the following:

    (a) With respect to a corporation formed with the permission of the Arizona finance authority, a municipality or a county other than the Arizona board of regents:

    (i) Any enterprise for the manufacturing, processing or assembling of any agricultural or manufactured products. See Arizona Laws 35-701

  • Property: means any land, improvements thereon, buildings and any improvements thereto, machinery and equipment of any and all kinds necessary to a project and any other personal properties deemed necessary in connection with a project. See Arizona Laws 35-701
  • Qualified educational institution: means an educational institution, as defined in paragraph 1 of this section, with a campus and facilities located in this state that offers one or more eligible degrees. See Arizona Laws 35-771
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Rebate: means the payment of monies to the federal government pursuant to any law enacted by the Congress of the United States in consideration of retaining any exemption from federal income taxes for the interest income on an issuer's bonds. See Arizona Laws 35-511
  • Research park: means an area of land that has been designated by the Arizona board of regents as a research park for a university and that, at the date of designation, is owned by this state or by the Arizona board of regents. See Arizona Laws 35-701
  • 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.
  • Shipper: means a person that ships, transports, sells or markets citrus fruit under the person's registered trademark or label or a person that first markets the citrus fruit on behalf of the producer. See Arizona Laws 3-441
  • Single family dwelling unit: includes any new, used or manufactured house that meets the insuring requirements of the federal housing administration, the United States department of veterans affairs or any other insuring entity of the United States government or any private mortgage insurance or surety company that is approved by the federal home loan mortgage corporation or the federal national mortgage association. See Arizona Laws 35-701
  • State program representative: means the state treasurer or the  state treasurer's designee. See Arizona Laws 35-771
  • Statute: A law passed by a legislature.
  • Student loan: means a loan to or for the benefit of an eligible student for the purpose of financing all or a part of the eligible student's cost of attending an educational institution in pursuit of an eligible degree or refinancing any such loan previously made. See Arizona Laws 35-771
  • Superintendent: means the superintendent of financial institutions. See Arizona Laws 6-101
  • Title: includes this title, title 32, chapters 9 and 36 and title 44, chapter 2. See Arizona Laws 6-101
  • Treasurer: means the treasurer, finance director or other person acting in the capacity of the treasurer of this state or any political subdivision. See Arizona Laws 35-511