North Carolina General Statutes 147-86.20. Definitions
The following definitions apply in this Article:
(1) Account receivable. – An asset of the State reflecting a debt that is owed to the State and has not been received by the State agency servicing the debt. The term includes claims, damages, fees, fines, forfeitures, loans, overpayments, taxes, and tuition as well as penalties, interest, and other costs authorized by law. The term does not include court costs or fees assessed in actions before the General Court of Justice or counsel fees and other expenses of representing indigents under Article 36 of Chapter 7A of the N.C. Gen. Stat..
(2) Debtor. – A person who owes an account receivable.
(2a) Electronic payment. – Payment by charge card, credit card, debit card, or by electronic funds transfer as defined in N.C. Gen. Stat. § 105-228.90(b).
(3) Past-due. – An account receivable is past-due if the State has not received payment of it by the payment due date.
(4) Person. – An individual, a fiduciary, a firm, a partnership, an association, a corporation, a unit of government, or another group acting as a unit.
(5) State agency. – Defined in N.C. Gen. Stat. § 147-64.4(4). The term does not include, however, a community college, a local school administrative unit, an area mental health, developmental disabilities, and substance abuse authority, or the General Court of Justice.
(6) Write-off. – To remove an account receivable from a State agency’s accounts receivable records. ?(1993, c. 512, s. 1; 1999-434, s. 1; 2010-31, s. 31.8(a); 2019-177, s. 8.1.)
Terms Used In North Carolina General Statutes 147-86.20
- 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.
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Fiduciary: A trustee, executor, or administrator.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- 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.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3