Terms Used In North Carolina General Statutes > Chapter 7A > Article 29 - Administrative Office of the Courts

• Actuary: means a person who meets the standards of a qualified actuary, as specified in the NAIC Annual Statement Instructions, as amended or clarified by rule or order of the Commissioner, for the type of insurer for which an intermediary is establishing loss reserves. See North Carolina General Statutes 58-9-2
• Adjusted risk-based capital report: A risk-based capital report that has been adjusted by the Commissioner under N. See North Carolina General Statutes 58-12-2
• Admitted insurer: means an insurer licensed to engage in the business of insurance in this State. See North Carolina General Statutes 58-21-10
• 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.
• Affiliated group: means any group of entities that are all affiliated. See North Carolina General Statutes 58-21-10
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• 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.
• Assets: means all property, real or personal, tangible or intangible, legal or equitable, owned by an insurer. See North Carolina General Statutes 58-13-15
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney: means the person designated and authorized by subscribers as the attorney-in-fact having authority to obligate them on reciprocal and other insurance contracts. See North Carolina General Statutes 58-15-5
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorized control level risk-based capital: means the number determined under the risk-based capital formula in accordance with the risk-based capital instructions. See North Carolina General Statutes 58-12-2
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• 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.
• 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}
• Benefit contract: shall mean the agreement for provision of benefits authorized by N. See North Carolina General Statutes 58-24-15
• Benefit member: shall mean an adult member who is designated by the laws or rules of the society to be a benefit member under a benefit contract. See North Carolina General Statutes 58-24-15
• Broker: means any person, other than an officer or employee of a ceding insurer, who solicits, negotiates, or places reinsurance cessions or retrocessions on behalf of a ceding insurer without the authority or power to bind reinsurance on behalf of the ceding insurer. See North Carolina General Statutes 58-9-2
• Certificate: shall mean the document issued as written evidence of the benefit contract. See North Carolina General Statutes 58-24-15
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Claimants: means any owners, beneficiaries, assignees, certificate holders, or third-party beneficiaries of any insurance benefit or right arising out of and within the coverage of an insurance policy covered by this Article. See North Carolina General Statutes 58-13-15
• Commissioner: includes the Commissioner's authorized deputies and employees. See North Carolina General Statutes 58-9-2
• Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process.
• 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.
• Company action level risk-based capital: means , with respect to any insurer, the product of 2. See North Carolina General Statutes 58-12-2
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Completed operations liability: means liability arising out of the installation, maintenance, or repair of any product at a site that is not owned or controlled by:

  a. See North Carolina General Statutes 58-22-10

• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Control: means an entity that has 'control' over another entity if either of the following occurs:

  a. See North Carolina General Statutes 58-21-10

• Controlling person: means any person who directly or indirectly has the power to direct or cause to be directed the management, control, or activities of an intermediary. See North Carolina General Statutes 58-9-2
• 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.
• Corrective order: An order issued by the Commissioner specifying corrective actions that the Commissioner has determined are required. See North Carolina General Statutes 58-12-2
• 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.
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Domestic insurer: Any insurance company or health organization organized in this State under Article 7 of this Chapter as specified in subdivisions (4b) and (5a) of this section or under Article 15, 65, or 67 of this Chapter or any risk retention group organized in this State under Part 9 of Article 10 of this Chapter. See North Carolina General Statutes 58-12-2
• Eligible surplus lines insurer: means an alien insurer as defined in N. See North Carolina General Statutes 58-21-10
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Enterprise risk: Any activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect upon the financial condition or liquidity of the insurer or its insurance holding company system as a whole, including, but not limited to, anything that would cause the insurer's risk-based capital to fall into company action level as set forth in Article 12 of this Chapter or would cause the insurer to be in a hazardous financial condition as set forth in N. See North Carolina General Statutes 58-19-5
• 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.
• 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}
• 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.
• Executive officer: A chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and any other individual performing functions corresponding to those performed by the foregoing officers under whatever title. See North Carolina General Statutes 58-19-5
• Export: means to place surplus lines insurance with a nonadmitted domestic surplus lines insurer or a nonadmitted insurer. See North Carolina General Statutes 58-21-10
• 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.
• feasibility study: means an analysis that presents the expected activities and results of a risk retention group including, at a minimum:

  a. See North Carolina General Statutes 58-22-10

• 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}
• Fiduciary: A trustee, executor, or administrator.
• 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.
• 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
• Foreign insurer: Any insurance company or health organization that is admitted to do business in this State under Article 16 or 67 of this Chapter but is not domiciled in this State. See North Carolina General Statutes 58-12-2
• 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}
• Form A: The statement regarding the acquisition of control of or merger with a domestic insurer that is required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Form B: The insurance holding company system annual registration statement that is required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Form C: The summary of changes to the insurance company system annual registration statement that is required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Form D: The prior notice of a transaction that is required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Form E: The pre-acquisition notification that is required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Form F: The annual enterprise risk report required to be filed with the Commissioner pursuant to N. See North Carolina General Statutes 58-19-5
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grantor: The person who establishes a trust and places property into it.
• Hazardous financial condition: means that, based on its present or reasonably anticipated financial condition, a risk retention group is insolvent or, although not yet financially impaired or insolvent, is unlikely to be able:

  a. See North Carolina General Statutes 58-22-10

• Health organization: Any insurer which is required by the Commissioner to use the NAIC Health Annual Statement Blank when filing the annual statement prescribed by N. See North Carolina General Statutes 58-12-2
• in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of this State. See North Carolina General Statutes 58-22-10
• Insurance holding company system: An entity comprising two or more affiliated persons, one or more of which is an insurer. See North Carolina General Statutes 58-19-5
• Insurer: As defined in N. See North Carolina General Statutes 58-19-5
• 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}
• Intermediary: includes a broker or a manager, as those terms are defined in this section. See North Carolina General Statutes 58-9-2
• Joint 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.
• 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.
• Laws: shall mean the society's articles of incorporation, constitution and bylaws, however designated. See North Carolina General Statutes 58-24-15
• 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.
• Liability: means legal liability for damages, including costs of defense, legal costs and fees, and other claims expenses, because of injuries to other persons, damage to their property, or other damage or loss to such other persons resulting from or arising out of any profit or nonprofit business, trade, product, professional or other services, premises, or operations; or any activity of any state or local government, or any agency or political subdivision thereof. See North Carolina General Statutes 58-22-10
• License: means a license to transact the business of insurance in this State, issued by the Commissioner. See North Carolina General Statutes 58-15-5
• Lien: A claim against real or personal property in satisfaction of a debt.
• Life or health insurer: Any insurance company licensed to write the kinds of insurance specified in N. See North Carolina General Statutes 58-12-2
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• local government: means any county, city, or housing authority located in this State. See North Carolina General Statutes 58-23-1
• Lodge: shall mean subordinate member units of the society, known as camps, courts, councils, branches or by any other designation. See North Carolina General Statutes 58-24-15
• Manager: means any person who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer (including the management of a separate division, department, or underwriting office) and acts as an agent for the reinsurer. See North Carolina General Statutes 58-9-2
• Mandatory control level risk-based capital: means the product of . See North Carolina General Statutes 58-12-2
• month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: 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.
• Negative trend: A negative trend, with respect to a life or health insurer, over a period of time, as determined in accordance with the "trend test calculation" included in the risk-based capital instructions. See North Carolina General Statutes 58-12-2
• 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.
• Nonadmitted domestic surplus lines insurer: means an insurer that is domiciled in and authorized pursuant to N. See North Carolina General Statutes 58-21-10
• Nonadmitted insurer: includes insurance exchanges authorized under the laws of various states. See North Carolina General Statutes 58-21-10
• oath: shall be construed to include "affirmation" in all cases where by law an affirmation may be substituted for an oath, and in like cases the word "sworn" shall be construed to include the word "affirmed. See North Carolina General Statutes 12-3
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• 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.
• person: means any county, city, school board, hospital authority, or any other local governmental authority or local agency or public service corporation owned, operated or controlled by a local government or local government authority, that has the power to enter into contractual undertakings within or without the State. See North Carolina General Statutes 58-15-5
• Person: An individual, corporation, partnership, limited liability company, association, joint stock company, trust, unincorporated organization, or any similar entity or any combination of the foregoing acting in concert. See North Carolina General Statutes 58-19-5
• Personal property: All property that is not real property.
• personal property: shall include moneys, goods, chattels, choses in action and evidences of debt, including all things capable of ownership, not descendable to heirs at law. See North Carolina General Statutes 12-3
• Personal risk liability: means liability for damage because of injury to any person, damage to property, or other loss or damage resulting from any personal, familial, or household responsibilities or activities. See North Carolina General Statutes 58-22-10
• 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.
• Policyholder-related liabilities: means those liabilities that are required to be established by an insurer for all of its outstanding insurance policies in accordance with this Chapter. See North Carolina General Statutes 58-13-15
• 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}
• 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.
• Premiums: shall mean premiums, rates, dues or other required contributions by whatever name known, which are payable under the certificate. See North Carolina General Statutes 58-24-15
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• Producer: means an insurance producer licensed under Article 33 of this Chapter or an intermediary licensed under this Article. See North Carolina General Statutes 58-9-2
• Producing broker: means an insurance producer licensed under Article 33 of this Chapter who deals directly with the party seeking insurance and who may also be a surplus lines licensee. See North Carolina General Statutes 58-21-10
• Product liability: means liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product; but does not include the liability of any person for those damages if the product involved was in the possession of such person when the incident giving rise to the claim occurred. See North Carolina General Statutes 58-22-10
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• Property or casualty insurer: Any insurance company licensed to write the kinds of insurance specified in N. See North Carolina General Statutes 58-12-2
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Purchasing group: means any group that:

  a. See North Carolina General Statutes 58-22-10

• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reciprocal: means an aggregation of subscribers under a common name. See North Carolina General Statutes 58-15-5
• Reciprocal insurance: means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer. See North Carolina General Statutes 58-15-5
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Regulatory action level risk-based capital: means the product of 1. See North Carolina General Statutes 58-12-2
• Reinsurer: means any insurer that is licensed by the Commissioner and that is authorized to assume reinsurance. See North Carolina General Statutes 58-9-2
• 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.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• 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.
• Risk retention group: means any corporation or other limited liability association:

  a. See North Carolina General Statutes 58-22-10

• Risk-based capital instructions: The risk-based capital report including risk-based capital instructions adopted by the NAIC, as those risk-based capital instructions may be amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. See North Carolina General Statutes 58-12-2
• Risk-based capital level: An insurer's company action level risk-based capital, regulatory action level risk-based capital, authorized control level risk-based capital, or mandatory control level risk-based capital where:

  a. See North Carolina General Statutes 58-12-2

• Risk-based capital plan: A comprehensive financial plan containing the elements specified in N. See North Carolina General Statutes 58-12-2
• Risk-based capital report: The report required in N. See North Carolina General Statutes 58-12-2
• Rules: shall mean all rules, regulations or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See North Carolina General Statutes 58-24-15
• Salary protection insurance: means insurance against financial loss caused by the cessation of earned income because of disability from sickness, ailment, or bodily injury. See North Carolina General Statutes 58-21-10
• seal: shall be construed to include an impression of such official seal, made upon the paper alone, as well as an impression made by means of a wafer or of wax affixed thereto. See North Carolina General Statutes 12-3
• Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
• 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.
• Society: shall mean fraternal benefit society, unless otherwise indicated. See North Carolina General Statutes 58-24-15
• 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
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Subscriber: means a person obligated under a reciprocal insurance agreement. See North Carolina General Statutes 58-15-5
• Summons: Another word for subpoena used by the criminal justice system.
• Surplus lines insurance: means any insurance in this State of risks resident, located, or to be performed in this State, permitted to be placed through a surplus lines licensee with a nonadmitted domestic surplus lines insurer or a nonadmitted insurer eligible to accept such insurance, including salary protection insurance. See North Carolina General Statutes 58-21-10
• Surplus lines licensee: means a person licensed under N. See North Carolina General Statutes 58-21-10
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Total adjusted capital: The sum of:

  a. See North Carolina General Statutes 58-12-2

• trend test calculation: include d in the risk-based capital instructions. See North Carolina General Statutes 58-12-2
• Trial: 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: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Ultimate controlling person: A person not controlled by any other person. See North Carolina General Statutes 58-19-5
• United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
• Voting security: Includes any security convertible into or evidencing a right to acquire a voting security. See North Carolina General Statutes 58-19-5
• Wet marine and transportation insurance: means any of the following:

  a. See North Carolina General Statutes 58-21-10

• Writ: A formal written command, issued from the court, requiring the performance of a specific act.