Terms Used In Delaware Code > Title 6 > Chapter 73 - Securities Act

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• 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.
• Agent: means any individual, other than a broker-dealer, who represents a broker-dealer or issuer in effecting or attempting to effect purchases or sales of securities. See Delaware Code Title 6 Sec. 73-103
• Agricultural products: includes all agricultural, horticultural, vegetable, fruit and floricultural products of the soil, livestock and meats, wool, hides, poultry, eggs, dairy products, nuts, mushrooms and honey, but does not include timber products. See Delaware Code Title 3 Sec. 8501
• 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.
• 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.
• 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
• Attorney General: means the Attorney General of the State or the Attorney General's duly appointed deputy. See Delaware Code Title 6 Sec. 73-103
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Authority: shall mean the Transportation Authority. See Delaware Code Title 2 Sec. 1801
• 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.
• Bankruptcy: means an event that causes a person to cease to be a member as provided in § 18-304 of this title. See Delaware Code Title 6 Sec. 18-101
• 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}
• Bequest: Property gifted by will.
• Broker-dealer: means any person engaged in the business of effecting transactions in securities for the account of others or for the broker-dealer's own account. See Delaware Code Title 6 Sec. 73-103
• Chambers: A judge's office.
• Charter bus: means a motor vehicle having a passenger capacity of 16 persons or more, including the driver, which bus is used exclusively for hire or lease. See Delaware Code Title 2 Sec. 1801
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• 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.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contribution: means any cash, property, services rendered or a promissory note or other obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in the capacity as a partner. See Delaware Code Title 6 Sec. 17-101
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Delaware Department of Transportation. See Delaware Code Title 2 Sec. 1801
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Digital network: means any online-enabled technology application service, website or system offered or utilized by a transportation network company that enables the prearrangement of rides with transportation network company drivers. See Delaware Code Title 2 Sec. 1901
• Director: means the Investor Protection Director, the principal executive officer of the Investor Protection Unit designated in § 73-102 of this title. See Delaware Code Title 6 Sec. 73-103
• Docket: A log containing brief entries of court proceedings.
• 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
• Eligible adult: means :

  a. See Delaware Code Title 6 Sec. 73-103

• employee: as used in this chapter , clerks, secretaries, nurses, administrators, bookkeepers, technicians and other assistants who are not usually and ordinarily considered by law, custom and practice to be rendering professional services to the public for which a license, or other legal authorization, is required in connection with the profession to be practiced, nor does the term "employee" include any other person who performs all of such person's employment under the direct supervision and control of an officer, employee or agent who renders professional service to the public on behalf of the professional corporation; provided that, no person shall, under the guise of employment, practice a profession unless duly licensed to practice that profession under the laws of this State. See Delaware Code Title 8 Sec. 607
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Ex officio: Literally, by virtue of one's office.
• Executor: A male person named in a will to carry out the decedent
• Family: means as defined in § 901 of this title. See Delaware Code Title 10 Sec. 1921
• Federal covered adviser: means a person who is registered under § 203 of the Investment Advisers Act of 1940 [15 U. See Delaware Code Title 6 Sec. 73-103
• Federal covered security: means any security that is a covered security under § 18(b) of the Securities Act of 1933 [15 U. See Delaware Code Title 6 Sec. 73-103
• Fiduciary: A trustee, executor, or administrator.
• Financial exploitation: includes , but is not limited to:

  a. See Delaware Code Title 6 Sec. 73-103

• 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.
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• General partner: means a person who is named as a general partner in the certificate of limited partnership or similar instrument under which a limited partnership is formed if so required and who is admitted to the limited partnership as a general partner in accordance with the partnership agreement or this chapter, and includes a general partner of the limited partnership generally and a general partner associated with a series of the limited partnership. See Delaware Code Title 6 Sec. 17-101
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Government agency: includes all agencies, authorities, boards, commissioner, departments, institutions, offices, and any other bodies of the State created by the constitution or statute, whether in the executive, judicial, or legislative branch; all units and corporate outgrowths created by executive order of the Governor or any constitutional officer, by the Supreme Court, or by resolution of the General Assembly; and agencies, authorities, boards, commissions, departments, institutions, offices, and any other bodies politic and corporate of a unit of local government, or school district. See Delaware Code Title 10 Sec. 1921
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Home address: includes a judicial officer's permanent residence and any secondary residence affirmatively identified by the judicial officer, but does not include a judicial officer's work address. See Delaware Code Title 10 Sec. 1921
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Inter vivos: Transfer of property from one living person to another living person.
• Intestate: Dying without leaving a will.
• Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Delaware Code Title 6 Sec. 73-103
• Investment adviser representative: means any partner, officer, director (or a person occupying a similar status or performing similar functions) or other individual, except clerical or ministerial personnel, who is employed by or associated with an investment adviser that is registered or required to be registered under this chapter, or who has a place of business located in this State and is employed by or associated with a federal covered adviser; and who does any of following: (A) makes any recommendations or otherwise renders advice regarding securities, (B) manages accounts or portfolios of clients, (C) determines which recommendation or advice regarding securities should be given, (D) solicits, offers or negotiates for the sale of or sells investment advisory services, or (E) supervises employees who perform any of the foregoing. See Delaware Code Title 6 Sec. 73-103
• Issuer: means any person who issues or proposes to issue any security. See Delaware Code Title 6 Sec. 73-103
• Judicial officer: includes any active, formerly active, or retired:

  a. See Delaware Code Title 10 Sec. 1921

• Knowledge: means a person's actual knowledge of a fact, rather than the person's constructive knowledge of the fact. See Delaware Code Title 6 Sec. 17-101
• 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.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• 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
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nonissuer: means not directly or indirectly for the benefit of the issuer. See Delaware Code Title 6 Sec. 73-103
• 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.
• Partner: means a limited or general partner. See Delaware Code Title 6 Sec. 17-101
• 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 an individual, a corporation, a partnership, an association, a joint stock company, a trust where the interests of the beneficiaries are evidenced by a security, an unincorporated organization, a government, or a political subdivision of a government. See Delaware Code Title 6 Sec. 73-103
• Person: means as defined in § 302 of Title 1. See Delaware Code Title 10 Sec. 1921
• Person engaged in agriculture: means a person engaged in agriculture, dairying, livestock raising, poultry raising, floriculture, mushroom growing, beekeeping, horticulture and other allied occupations. See Delaware Code Title 3 Sec. 8501
• Personal information: means a home address, home telephone number, mobile telephone number, direct telephone number to a judicial officer's private chambers, personal e-mail address, social security number, federal tax identification number, checking and savings account numbers, credit or debit card numbers, birth or marital records, property tax records, and identity of children under the age of 18. See Delaware Code Title 10 Sec. 1921
• Personal vehicle: means a vehicle that is used by a transportation network company driver and is:

  a. See Delaware Code Title 2 Sec. 1901

• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Prearranged ride: means the provision of transportation by a TNC driver to a rider, beginning when a TNC driver accepts a ride requested by a rider through a digital network controlled by a transportation network company, continuing while the TNC driver transports a requesting rider, and ending when the last rider departs from the personal vehicle. See Delaware Code Title 2 Sec. 1901
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• professional corporation: means a corporation which is organized and incorporated, under this chapter, for the sole and specific purpose of rendering a single professional service or qualified related professional services, and which has as its shareholders only individuals who themselves are duly licensed or otherwise legally authorized within this State to render the same professional service, or those component qualified related professional services, as the corporation. See Delaware Code Title 8 Sec. 603
• professional service: shall mean any type of personal service to the public which requires as a condition precedent to the rendering of the service the obtaining of a license or other legal authorization, and which, by reason of law, prior to June 7, 1969, could not be performed by a corporation. See Delaware Code Title 8 Sec. 603
• Promoter: includes :

  a. See Delaware Code Title 6 Sec. 73-103

• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Protective hairstyle: includes braids, locks, and twists. See Delaware Code Title 2 Sec. 1901
• Public carrier: includes every individual, partnership, association, corporation, joint stock company, agency or department of this State, or any association of individuals engaged in the prosecution in common of a productive enterprise (commonly called a "cooperative"), their lessees, trustees or receivers appointed by any court whatsoever, that now operates or hereafter may operate, within this State, any railroad, street railway, traction railway, taxicab, limousine, motor bus or electric trackless trolley coach service, system, plan or equipment for public use other than transportation authorities created pursuant to Chapter 13 of this title. See Delaware Code Title 2 Sec. 1801
• Public interest: means that it shall appear to the Commissioner that the action taken or sanction imposed will further the purpose of this chapter. See Delaware Code Title 6 Sec. 73-103
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Public use: means service provided in exchange for a fee or charge, regardless of whether the operator intends to make a profit, offered by any railroad, street railway, traction railway, taxicab, motor bus, electric trolley coach or limousine service, system or plant by any individual or group for any purpose except: (i) transportation to and from any school or school-sponsored event when such transportation is under the regulation of the Department of Education; and (ii) transportation to and from nonschool related events by school bus operators under the regulation of the Department of Education, where such nonschool related transportation is a de minimis portion of the carrier's operation; and (iii) transportation to and from a church, synagogue or other place of worship; and (iv) shuttle-type transportation provided by business establishments without charge to customers of the businesses offering such shuttle transportation between fixed termini. See Delaware Code Title 2 Sec. 1801
• Publicly available content: means any written, printed, or electronic document or record that provides information or that serves as a document or record maintained, controlled, or in the possession of a government agency that may be obtained by any person, from the Internet, from the government agency upon request either free of charge or for a fee, or in response to a request under the Freedom of Information Act [Chapter 100 of Title 29]. See Delaware Code Title 10 Sec. 1921
• publicly display: means to communicate to another or otherwise make available to the general public. See Delaware Code Title 10 Sec. 1921
• Qualified individual: means any agent, broker-dealer, investment adviser, investment adviser representative or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. See Delaware Code Title 6 Sec. 73-103
• qualified related professional services: means , and is limited to, any combination of the practice of medicine by doctors of medicine or doctors of osteopathy or both, and the practice of podiatry by doctors of podiatric medicine. See Delaware Code Title 8 Sec. 603
• Race: includes traits historically associated with race, including hair texture and a protective hairstyle. See Delaware Code Title 2 Sec. 1901
• Railroad: means a road, the cars, carriages and coaches on which are propelled by steam power, electricity, cable, motor or any improved motive power. See Delaware Code Title 2 Sec. 1801
• 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.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• rider: means an individual or persons who use a transportation network company's digital network to connect with a transportation network company driver who provides prearranged rides to the rider in the TNC driver's personal vehicle between points chosen by the rider. See Delaware Code Title 2 Sec. 1901
• Secretary: means the Secretary of the Department of Transportation. See Delaware Code Title 2 Sec. 1801
• Security: means any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in any profit-sharing agreement; collateral-trust certificate; preorganization certificate or subscription; transferable share; investment contract, including pyramid promotion which includes any plan or operation for the sale or distribution of property, services, or any other thing of value wherein a person for a consideration is offered an opportunity to obtain a benefit which is based in whole or in part on the inducement, by himself or herself or by others, of additional persons to purchase the same or a similar opportunity; voting-trust certificate; certificate of deposit for a security; certificate of interest of participation in an oil, gas or mining title or lease or in payments out of production under such a title or lease; options on commodities; viatical settlement investment; or, in general, any interest or instrument commonly known as a "security" or any certificate of interest or participation in, temporary or interim certificate, for, receipt for guarantee of, or warrant or right to subscribe to or purchase, any of the aforegoing. See Delaware Code Title 6 Sec. 73-103
• sell: includes every contract of sale of, contract to sell or disposition of a security or interest in a security for value. See Delaware Code Title 6 Sec. 73-103
• Series: means a designated series of limited partners, general partners, partnership interests or assets that is a protected series or a registered series, or that is neither a protected series nor a registered series. See Delaware Code Title 6 Sec. 17-101
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Stretcher van: means a vehicle staffed by both a driver and attendant, which is specifically designed and equipped to provide nonemergency transportation of individuals on a stretcher. See Delaware Code Title 2 Sec. 1801
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• TNC: means a corporation, partnership, sole proprietorship, or other entity that is licensed pursuant to this chapter and operating in Delaware that uses a digital network to connect transportation network company riders to transportation network company drivers who provide prearranged rides. See Delaware Code Title 2 Sec. 1901
• TNC driver: means an individual who:

  a. See Delaware Code Title 2 Sec. 1901

• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• 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.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Written request: means written notice signed by a judicial officer or a representative of the judicial officer's employer requesting a government agency or person to refrain from posting or displaying publicly available content that includes the personal information of the judicial officer or of their family. See Delaware Code Title 10 Sec. 1921
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302