§ 8531 Issue, redemption and transfer of stock
§ 8532 Dividends on stock
§ 8533 Liability of stockholders and officers for debts of association
§ 8534 Voting rights of stockholders
§ 8535 Patronage refunds
§ 8536 Reserve fund
§ 8537 Revolving reserve fund
§ 8538 Annual audit and report

Terms Used In Delaware Code > Title 3 > Chapter 85 > Subchapter III - Stock and Stockholders; Financial Operations

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • 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.
  • 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.
  • Association: means a corporation formed under this chapter. See Delaware Code Title 3 Sec. 8501
  • Balanced budget: A budget in which receipts equal outlays.
  • Bequest: Property gifted by will.
  • Billing period: means the payment cycle agreed to by the parties, or, in the absence of an agreement, the calendar month within which the work is performed. See Delaware Code Title 6 Sec. 3501
  • Broadcast: means the transmission of information by means of radio or television facilities. See Delaware Code Title 6 Sec. 3801
  • Business day: shall mean any calendar day except Saturdays, Sundays or legal holidays (as that term is defined in Chapter 5 of Title 1). See Delaware Code Title 6 Sec. 4403
  • Buyer: means a natural person who enters into a health spa contract. See Delaware Code Title 6 Sec. 4202
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Consumer: means a person who buys for personal use, or for the use of another but not for resale. See Delaware Code Title 6 Sec. 3701
  • Consumer goods or services: shall mean goods or services purchased, leased or rented primarily for personal, family or household purposes, including courses of instruction or training regardless of the purpose for which they are taken. See Delaware Code Title 6 Sec. 4403
  • Contract: A legal written agreement that becomes binding when signed.
  • Contractor: includes , but is not limited to, an architect, engineer, real estate broker or agent, subcontractor or other person, who enters into any contract with another person to furnish labor and/or materials in connection with the erection, construction, completion, alteration or repair of any building or for additions to a building, by such contractor, or for the sale to such other person of any lands and premises, whether owned by such contractor or another, upon which such contractor undertakes to erect, construct, complete, alter or repair any building or addition to a building. See Delaware Code Title 6 Sec. 3501
  • 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.
  • Devise: To gift property by will.
  • Director: means the Director of the Division of Consumer Protection, or a member of the Director's staff to whom the Director may delegate duties under this chapter. See Delaware Code Title 6 Sec. 4202
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Document: means :

    a. See Delaware Code Title 6 Sec. 17-101

  • dollars: means lawful money of the United States. See Delaware Code Title 1 Sec. 302
  • Door-to-door sale: shall mean a sale, lease or rental of consumer goods or services with a purchase price of $25 or more, whether under single or multiple contracts, in which the seller or the seller's representative personally solicits the sale, including those in response to or following an invitation by the buyer, and the buyer's agreement or offer to purchase is made at a place other than the place of business of the seller. See Delaware Code Title 6 Sec. 4403
  • Energy service company: means any person engaged in the sale of residential heating fuel and/or the service of residential heating systems. See Delaware Code Title 6 Sec. 3401
  • 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.
  • 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.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Health spa: includes any person, firm, corporation, organization, club or association engaged in the sale of memberships in a program of physical exercise, physical fitness, weight control or figure reduction, which offers the use of 1 or more of the following: a whirlpool, weight lifting room, steam room, exercising room or exercising or weight loss device. See Delaware Code Title 6 Sec. 4202
  • Home: shall mean a house, dwelling, condominium, townhouse, apartment or such other residential building or dwelling in which a person resides. See Delaware Code Title 6 Sec. 4403
  • In forma pauperis: In the manner of a pauper. Permission given to a person to sue without payment of court fees on claim of indigence or poverty.
  • 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: 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.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Manager: means a person who is named as a manager of a limited liability company in, or designated as a manager of a limited liability company pursuant to, a limited liability company agreement or similar instrument under which the limited liability company is formed, and includes a manager of the limited liability company generally and a manager associated with a series of the limited liability company. See Delaware Code Title 6 Sec. 18-101
  • Member: means a person who is admitted to a limited liability company as a member as provided in § 18-301 of this title, and includes a member of the limited liability company generally and a member associated with a series of the limited liability company. See Delaware Code Title 6 Sec. 18-101
  • Moneys or funds: includes , but is not limited to, the entire amount of all moneys or funds received by a contractor, as defined in this section, who, being the owner of the legal title to lands and premises, receives, in connection with a contract for the sale thereof and for the erection, construction, completion, alteration or repair of any building or addition thereon by such contractor, any moneys or funds by way of a loan or advance upon the security of such lands and premises for the purpose of such erection, construction, completion, alteration or repair, or who receives from the other contracting party or vendee any deposit or sum of money on account of the purchase or contract price, and no part of such moneys or funds shall be deemed or construed applicable to the payment of the cost or selling price of land, unless that part of the contract price or selling price applicable to cost or selling price of land, be specifically so stated in the contract. See Delaware Code Title 6 Sec. 3501
  • Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
  • Notice: means any notice that is required by law to be published. See Delaware Code Title 6 Sec. 3801
  • 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.
  • Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
  • Owner: means a person who has an interest in the lands or premises upon which a contractor has undertaken to erect, construct, complete, alter or repair any building or addition to a building. See Delaware Code Title 6 Sec. 3501
  • 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.
  • Patron: means a person engaged in agriculture whose products are sold by or supplies purchased through the association, or who has executed a contract with the association to sell all or a part of the patron's agricultural products to or through the association. See Delaware Code Title 3 Sec. 8501
  • Person: means any individual, partnership, corporation, trustee or other entity having the capacity to enter into a valid and enforceable contract. See Delaware Code Title 6 Sec. 3401
  • Person: shall include a corporation, partnership, limited liability corporation or partnership, business trust, other association, estate trust, foundation or a natural person. See Delaware Code Title 6 Sec. 3501
  • Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
  • Personal property: All property that is not real property.
  • Place of business: shall mean the main or permanent branch office or a permanent local address of a seller, not including a hotel room, motel room or other temporary quarters. See Delaware Code Title 6 Sec. 4403
  • Purchase price: shall mean the total price paid or to be paid for the consumer goods or services, including all interest and service charges. See Delaware Code Title 6 Sec. 4403
  • Quorum: The number of legislators that must be present to do business.
  • 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.
  • 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.
  • Residential heating system: means all equipment necessary for the storage and transmission of residential heating fuel and the conversion thereof to energy for the purpose of heating a residence and/or heating hot water to be used in the residence. See Delaware Code Title 6 Sec. 3401
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Sell: includes offer to sell or exchange, expose for sale or exchange, possess with intent to sell or exchange, and sell or exchange. See Delaware Code Title 6 Sec. 3701
  • Seller: shall mean any person, partnership, corporation or association engaged in the door-to-door sale of consumer goods or services. See Delaware Code Title 6 Sec. 4403
  • 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 the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
  • State: means the District of Columbia or the Commonwealth of Puerto Rico or any state, territory, possession, or other jurisdiction of the United States other than the State of Delaware. See Delaware Code Title 6 Sec. 17-101
  • Station: means any radio or television station licensed for commercial or educational operation by the Federal Communications Commission. See Delaware Code Title 6 Sec. 3801
  • Statute: A law passed by a legislature.
  • Subcontractor: means a person who enters into a contract to furnish labor and/or materials to a contractor. See Delaware Code Title 6 Sec. 3501
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302