Terms Used In Illinois Compiled Statutes > Chapter 815 > Securities
- Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
- A verdict of "not guilty."
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- 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.
- 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.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Bailee: means a person that by a warehouse
receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Illinois Compiled Statutes 810 ILCS 5/7-102Carrier: means any motor carrier or rail carrier other than a private carrier. See Illinois Compiled Statutes 625 ILCS 5/18c-1104Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.Civil forfeiture: The loss of ownership of property used to conduct illegal activity.Commission: means the Illinois Commerce Commission. See Illinois Compiled Statutes 625 ILCS 5/18c-1104Decedent: A deceased person.Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.Escrow: Money given to a third party to be held for payment until certain conditions are met.Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.Good faith: means honesty in fact and the
movable for the purposes of a contract for storage or transportation. See Illinois Compiled Statutes 810 ILCS 5/7-102Grant index: means a figure for each school district equal to one minus the ratio of the district's equalized assessed valuation per pupil in average daily attendance to the equalized assessed valuation per pupil in average daily attendance of the district located at the 90th percentile for all districts of the same category. See Illinois Compiled Statutes 105 ILCS 230/5-5Grantor: The person who establishes a trust and places property into it.Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCCHearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17Intestate: Dying without leaving a will.Issuer: means a bailee that issues a document of
title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Illinois Compiled Statutes 810 ILCS 5/7-102Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.Minority leader: See Floor LeadersMortgagee: 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.Party: means any person admitted as a party to a Commission proceeding or seeking and entitled as a matter of right to admission as a party to a Commission proceeding. See Illinois Compiled Statutes 625 ILCS 5/18c-1104Person: means any natural person or legal entity, whether such entity is a proprietorship, partnership, corporation, association, or other entity, and, where a provision concerns the acts or omissions of a person, includes the partners, officers, employees, and agents of the person, as well as any trustees, assignees, receivers, or personal representatives of the person. See Illinois Compiled Statutes 625 ILCS 5/18c-1104Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.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 Illinois Compiled Statutes 810 ILCS 5/7-102Rescission: 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.Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.School construction project: means the acquisition, development, construction, reconstruction, rehabilitation, improvement, architectural planning, and installation of capital facilities consisting of buildings, structures, durable equipment, and land for educational purposes. See Illinois Compiled Statutes 105 ILCS 230/5-5School district: includes a cooperative high school, which shall be considered a high school district for the purpose of calculating its grant index. See Illinois Compiled Statutes 105 ILCS 230/5-5School maintenance project: means a project, other than a school construction project, intended to provide for the maintenance or upkeep of buildings or structures for educational purposes, but does not include ongoing operational costs. See Illinois Compiled Statutes 105 ILCS 230/5-5Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCCWarehouse: means a person engaged in the