Terms Used In Idaho Code > Title 32
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Aerial passenger tramway: means any device operated by a ski area operator used to transport passengers, by single or double reversible tramway; chair lift or gondola lift; T-bar lift, J-bar lift, platter lift or similar device; a fiber rope or wire rope tow or a conveyor, which is subject to regulations adopted by the proper authority. See Idaho Code 26-31-202
- 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 a person who acts with the consent and on behalf of a licensee and is subject to the licensee's direct or indirect control, and may include an independent contractor. See Idaho Code 26-31-201
- Allegation: something that someone says happened.
- 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.
- 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
- Arrears: means child or spousal support that is due, owing and unpaid pursuant to a support order. See Idaho Code 32-1602
- Arrest: Taking physical custody of a person by lawful authority.
- Asset: means cash or cash value in or of a demand deposit account, checking or negotiable withdrawal order account, savings account, share account, share draft account, time deposit account or money market mutual fund account; and/or negotiable instruments including stocks and bonds, annuities, investment accounts or funds, and the cash value of insurance. See Idaho Code 32-1602
- Asset withholding order: means an administrative order issued by the department of health and welfare to a financial institution requiring the freezing and surrender of an asset in which an obligor has an interest. See Idaho Code 32-1602
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
- Borrower: means the person who has applied for a residential mortgage loan from a licensee, or person required to be licensed, under this chapter, or on whose behalf the activities set forth in section 26-31-201(3), (5) or (7) or 26-31-303(7), Idaho Code, are conducted. See Idaho Code 26-31-102
- Chambers: A judge's office.
- Child support: means the obligation, pursuant to a support order, to provide for the needs of a child, including food, clothing, shelter, education, day care and health care. See Idaho Code 32-1602
- Co-owner: means a person having withdrawal rights on a multiple party account. See Idaho Code 32-1602
- 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.
- Control person: means a person who:
Idaho Code 26-31-102
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. Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Decedent: A deceased person. 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. Deficiency: means information contained in, or omitted from, an application for a mortgage broker, mortgage lender or mortgage loan originator license that causes the application to be inaccurate, incomplete or otherwise not in conformance with the provisions of this chapter, any rule promulgated or order issued under this chapter, application instructions published by the director or the provisions of the NMLSR policy guidebook. See Idaho Code 26-31-102 Department: means the department of finance of the state of Idaho. See Idaho Code 26-31-102 Department: means the Idaho department of health and welfare. See Idaho Code 32-1602 Dependent: A person dependent for support upon another. Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial. Devise: To gift property by will. Director: means the director of the department of finance. See Idaho Code 26-31-102 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Donee: The recipient of a gift. Donor: The person who makes a gift. Donor: includes , but is not limited to, any food establishment, farmer, processor, distributor, wholesaler or retailer of perishable or nonperishable food. See Idaho Code 26-31-305 Dower: A widow 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. Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Felony: A crime carrying a penalty of more than a year in prison. Financial institution: means a bank, credit union or other depository institution, benefit association, insurance company, safe deposit company, money market mutual fund and other entities defined in 42 U. See Idaho Code 32-1602 Financial services: means any activity pertaining to securities, commodities, banking, insurance, consumer lending, money services businesses, consumer debt management or real estate including, but not limited to, acting as or being associated with a bank or savings association, credit union, farm credit system institution, mortgage lender, mortgage broker, real estate salesperson or agent, appraiser, closing agent, title company, escrow agent, payday lender, money transmitter, check casher, pawnbroker, collection agent, debt management company, title lender or credit repair organization. See Idaho Code 26-31-102 Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances: 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 Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC Fraud: Intentional deception resulting in injury to another. Freestyle terrain: means terrain parks and terrain features including, but not limited to, jumps, hits, ramps, banks, fun boxes, jibs, rails, half-pipes, quarter pipes and any other natural or constructed features. See Idaho Code 26-31-202 Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Gleaner: means a person who harvests for free distribution perishable food that has been donated by the owner. See Idaho Code 26-31-305 Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage, Grantor: The person who establishes a trust and places property into it. 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. Housing finance agency: means any entity that is:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
Idaho Code 26-31-102
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. 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 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. Juror: A person who is on the jury. 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 Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto). Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Licensee: means a person licensed pursuant to this chapter to engage in the activities regulated by this chapter. See Idaho Code 26-31-102 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. Loan modification: means an adjustment or compromise of an existing residential mortgage loan. See Idaho Code 26-31-201 Loan modification activities: means for compensation or gain, or in the expectation of compensation or gain, engaging in or offering to engage in effecting loan modifications in this state. See Idaho Code 26-31-201 Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement. Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgage broker: means any nonexempt organization that performs the activities described in subsection (5) of this section, with respect to a residential mortgage loan. See Idaho Code 26-31-201 Mortgage brokering activities: means for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept an application for a residential mortgage loan, assisting or offering to assist in the preparation of an application for a residential mortgage loan on behalf of a borrower, negotiating or offering to negotiate the terms or conditions of a residential mortgage loan with any person making residential mortgage loans or engaging in loan modification activities on behalf of a borrower. See Idaho Code 26-31-201 Mortgage lender: means any nonexempt organization that makes residential mortgage loans to borrowers and performs the activities described in subsection (7) of this section. See Idaho Code 26-31-201 Mortgage lending activities: means for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, accepting or offering to accept applications for residential mortgage loans, or assisting or offering to assist in the preparation of an application for a residential mortgage loan. See Idaho Code 26-31-201 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC NMLSR: means a mortgage licensing system developed and maintained by the conference of state bank supervisors and the American association of residential mortgage regulators for the licensing and registration of mortgage brokers, mortgage lenders and mortgage loan originators. See Idaho Code 26-31-102 Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose. Oath: A promise to tell the truth. 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. Obligor: means any person obligated by support order to pay child or spousal support. See Idaho Code 32-1602 Owner: means a person or entity who, by the terms of the account, has a present right, subject to a proper request in compliance with terms of the account, to payment from the account. See Idaho Code 32-1602 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. Passenger: means any person who is lawfully using an aerial passenger tramway, or is waiting to embark or has recently disembarked from an aerial passenger tramway and is in its immediate vicinity. See Idaho Code 26-31-202 Perishable food: includes , but is not limited to, fresh or processed meats, poultry, seafood, dairy products, bakery products, eggs in the shell, fresh fruits or vegetables, foods that have been packaged, refrigerated or frozen and unserved food of any kind which has been prepared by or for a food establishment. See Idaho Code 26-31-305 Person: means a natural person, corporation, company, limited liability company, partnership or association. See Idaho Code 26-31-102 person: includes a corporation as well as a natural person;
Idaho Code 73-114
Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 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 Probable cause: A reasonable ground for belief that the offender violated a specific law. Property: includes both real and personal property. See Idaho Code 73-114 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Qualified person in charge: means the person designated, pursuant to section 26-31-206, Idaho Code, as being in charge of, and primarily responsible for, the operation of a licensed location of a mortgage broker or mortgage lender licensed under this part. See Idaho Code 26-31-201 Real estate settlement procedures act: means the act set forth in 12 U. See Idaho Code 26-31-102 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Regulation X: means regulation X as issued by the federal bureau of consumer protection and codified at 12 CFR 1024 et seq. See Idaho Code 26-31-102 Regulation Z: means regulation Z as issued by the federal bureau of consumer protection and codified at 12 CFR 1026 et seq. See Idaho Code 26-31-102 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 mortgage loan: means any loan that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling, as defined in section 103(w) of the truth in lending act, located in Idaho, or on residential real estate. See Idaho Code 26-31-102 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. seal: includes an impression of such seal upon the paper, alone, as well as upon wax or a wafer affixed thereto; or, alternatively, the seal may be the mark of a rubber stamp providing substantially the same information as the impression. See Idaho Code 73-111 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. Ski area: means the property owned or leased and under the control of the ski area operator within the state of Idaho. See Idaho Code 26-31-202 Ski area operator: means any person, partnership, corporation or other commercial entity and their agents, officers, employees or representatives, who has operational responsibility for any ski area or aerial passenger tramway. See Idaho Code 26-31-202 Skier: means any person present at a skiing area under the control of a ski area operator for the purpose of engaging in activities including, but not limited to, sliding downhill or jumping on snow or ice on skis, a snowboard, or any other sliding device, or who is using any ski area including, but not limited to, ski slopes, trails and freestyle terrain but does not include the use of an aerial passenger tramway. See Idaho Code 26-31-202 Skiing area: means all designated slopes and trails but excludes any aerial passenger tramway. See Idaho Code 26-31-202 Spousal support: means the obligation, pursuant to a support order, to provide for a spouse or a former spouse. See Idaho Code 32-1602 State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 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. 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. 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. Truth in lending act: means the act set forth in 15 U. See Idaho Code 26-31-102 Unique identifier: means a number or other identifier assigned by protocols established by the NMLSR. See Idaho Code 26-31-102 Venue: The geographical location in which a case is tried. Verdict: The decision of a petit jury or a judge. Writ: signifies an order or precept in writing, issued in the name of the people, or of a court or judicial officer, and the word "process" a writ or summons issued in the course of judicial proceedings. See Idaho Code 73-114