North Carolina General Statutes 34-2. Definitions
Terms Used In North Carolina General Statutes 34-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- 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.
- Fiduciary: A trustee, executor, or administrator.
- 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.
In this Chapter:
The term “benefits” shall mean all moneys payable by the United States through the Bureau.
The term “Bureau” means the United States Veterans’ Bureau or its successor.
The term “Director” means the Director of the United States Veterans’ Bureau or his successor.
“Estate” means income on hand and assets acquired partially or wholly with “income.”
The term “guardian” as used herein shall mean any person acting as a fiduciary for a ward.
“Income” means moneys received from the Veterans Administration and revenue or profit from any property wholly or partially acquired therewith.
The term “person” includes a partnership, corporation or an association.
The term “ward” means a beneficiary of the Bureau. (1929, c. 33, s. 2; 1945, c. 723, s. 2; 1961, c. 396, s. 1.)