Terms Used In Delaware Code > Title 11 > Chapter 88 - Delaware County and Municipal Police/Firefighter Pension Plan

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Arrest: Taking physical custody of a person by lawful authority.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Audit Manager: means the Abandoned Property Audit Manager of the Delaware Department of Finance. See Delaware Code Title 12 Sec. 1130
• Banking organization: includes any organization, corporation, or association organized and existing under Chapter 7, 15, or 17 of Title 5 or the corresponding provisions of statutes in effect prior to February 12, 1953, or any bank or credit union created under the laws of the United States or any state. See Delaware Code Title 12 Sec. 1130
• 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: shall mean the Board of Pension Trustees established by § 8308 of Title 29. See Delaware Code Title 11 Sec. 8801
• Business association: means a for profit or nonprofit corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, land bank, safe deposit company, safekeeping depository, financial organization, insurance company, federally chartered entity, utility, sole proprietorship, or other business entity. See Delaware Code Title 12 Sec. 1130
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Compensation: shall mean all salary or wages, excluding overtime payments and special payments for extra duties, payable to a member for service. See Delaware Code Title 11 Sec. 8801
• Contract: A legal written agreement that becomes binding when signed.
• Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
• Credited service: shall mean , for any member:

  a. See Delaware Code Title 11 Sec. 8801

• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Dependent: shall mean a dependent child or dependent parent. See Delaware Code Title 11 Sec. 8801
• Dependent: A person dependent for support upon another.
• Domicile: means as follows:

  a. See Delaware Code Title 12 Sec. 1130

• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Delaware Code Title 12 Sec. 1130
• Employee: shall mean :

  a. See Delaware Code Title 11 Sec. 8801

• Equalized state service: shall mean :

  a. See Delaware Code Title 11 Sec. 8801

• 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}
• Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Final average compensation: shall mean 1/3 6 of the compensation paid to an employee during any period of 36 consecutive months for services rendered during those 36 months, in the years of credited service in which the compensation was highest. See Delaware Code Title 11 Sec. 8801
• Financial organization: means a savings and loan association, building and loan association, savings bank, industrial bank, bank, banking organization, or credit union. See Delaware Code Title 12 Sec. 1130
• Fraud: Intentional deception resulting in injury to another.
• Fund: shall mean the Fund established by § 8843 of this title. See Delaware Code Title 11 Sec. 8801
• Game-related digital content: means digital content that exists only in an electronic game or electronic-game platform. See Delaware Code Title 12 Sec. 1130
• General Fund: means the General Fund described in § 6102 of Title 29. See Delaware Code Title 12 Sec. 1130
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gift card: means a record that may be used to obtain merchandise, goods, or services at a single retailer of goods or services or an affiliated group of retailers of goods or services. See Delaware Code Title 12 Sec. 1130
• Grantee: includes every person to whom a freehold estate or interest is conveyed. See Delaware Code Title 1 Sec. 302
• Holder: means any person having possession, custody, or control of the property of another person and includes a post office, a depository, a bailee, a trustee, a receiver or other liquidating officer, a fiduciary, a governmental department, institution or agency, a municipal corporation and the fiscal officers thereof, a public utility, service corporation, and every other legal entity incorporated or created under the laws of this State or doing business in this State. See Delaware Code Title 12 Sec. 1130
• Inactive member: shall mean a member who is an employee on or after the member:

  a. See Delaware Code Title 11 Sec. 8801

• Insurance company: means an association, corporation, or fraternal or mutual-benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including accident, burial, casualty, credit-life, contract-performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage-protection, and worker-compensation insurance. See Delaware Code Title 12 Sec. 1130
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• Intestate: Dying without leaving a will.
• 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}
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Loyalty card: means a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate, or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services. See Delaware Code Title 12 Sec. 1130
• Member: shall mean a person who is an employee on or after the date the employer affiliates with the Fund. See Delaware Code Title 11 Sec. 8801
• Mineral: means gas, oil, coal, oil shale, other gaseous liquid or solid hydrocarbon, cement material, sand and gravel, road material, building stone, chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resources, and any other substance defined as a mineral by law of this State other than this chapter. See Delaware Code Title 12 Sec. 1130
• Mineral proceeds: means an amount payable for extraction, production, or sale of minerals, or, on the abandonment of the amount, the amount that becomes payable after abandonment. See Delaware Code Title 12 Sec. 1130
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipal bond: means a bond or evidence of indebtedness issued by a municipality or other political subdivision of a state. See Delaware Code Title 12 Sec. 1130
• Nonfreely transferable security: means a security that cannot be delivered to the State Escheator by the Depository Trust Clearing Corporation or a similar custodian of securities providing post-trade clearing and settlement services to financial markets or cannot be delivered because there is no agent to effect transfer. See Delaware Code Title 12 Sec. 1130
• 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.
• Owner: means a person, or the person's legal representative when acting on behalf of the person, that has a legal, beneficial, or equitable interest in property subject to this chapter. See Delaware Code Title 12 Sec. 1130
• Partial disability: shall mean a medically determined physical or mental impairment which renders the member unable to function as a police officer and which is reasonably expected to last at least 12 months. See Delaware Code Title 11 Sec. 8801
• 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.
• Party: means the respondent, petitioner, guardian, conservator, or any other person allowed by the Court to participate in a guardianship or protective proceeding. See Delaware Code Title 12 Sec. 39A-101
• Person: means an individual; estate; business association; public corporation; government or governmental subdivision, agency, or instrumentality; or other legal entity. See Delaware Code Title 12 Sec. 1130
• Primary survivor: shall mean a person in the following order of priority, unless the priority is changed by the member on a form prescribed by the Board on file with the Board at the time of the member's death:

  a. See Delaware Code Title 11 Sec. 8801

• Probate: Proving a will
• Property: means tangible property described in § 1134 of this title or a fixed and certain interest in intangible property held, issued, or owed in the course of a holder's business or by a government, governmental subdivision, agency, or instrumentality. See Delaware Code Title 12 Sec. 1130
• real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
• 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 or other medium and is retrievable in perceivable form. See Delaware Code Title 12 Sec. 1130
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Retired member: shall mean a member who has terminated service, other than an inactive member, who is eligible to receive a service or disability pension under this chapter. See Delaware Code Title 11 Sec. 8801
• Security: means any of the following:

  a. See Delaware Code Title 12 Sec. 1130

• 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.
• State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 1130
• State Escheator: means the person responsible for the administration and enforcement of this chapter, as established by § 1102 of this title and § 363 of Title 30. See Delaware Code Title 12 Sec. 1130
• Stored-value card: means a record that evidences a promise for consideration by the holder of the record that the owner of the record will be provided, solely or a combination of, merchandise, services, or cash in the value shown in the record, which is pre-funded and the value of which may be increased by the owner or holder or decreased by redemption. See Delaware Code Title 12 Sec. 1130
• Total disability: shall mean a medically determined physical or mental impairment which renders the member totally unable to work in any occupation for which the member is reasonably suited by training or experience, which is reasonably expected to last at least 12 months. See Delaware Code Title 11 Sec. 8801
• Utility: means a person that owns or operates for public use a plant, equipment, real property, franchise, or license for any the following public services:

  a. See Delaware Code Title 12 Sec. 1130

• Virtual currency: means a digital representation of value, including cryptocurrency, used as a medium of exchange, a unit of account, or a store of value that does not have legal tender status recognized by the United States. See Delaware Code Title 12 Sec. 1130
• Worthless security: means a security whose cost of liquidation and delivery would exceed the value of the security on the date a report is due under this chapter. See Delaware Code Title 12 Sec. 1130
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.