Terms Used In South Carolina Code > Title 33 > Chapter 46 > Article 4 - Members

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dealership: means the business of selling or attempting to effect the sale by a dealer of new equipment, or the right, whether by written or oral arrangement with a manufacturer, distributor, or wholesaler for a definite or indefinite period of time, to sell or attempt to effect the sale of new equipment. See South Carolina Code 39-6-20
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Distributor: means a person who sells or distributes new equipment to equipment dealers or who maintains distributor representatives within the State. See South Carolina Code 39-6-20
• Distributor branch: means a branch office maintained by a distributor that sells or distributes new equipment to equipment dealers. See South Carolina Code 39-6-20
• Equipment: means machinery, implements, or mechanical devices or apparatuses used in farming, construction, or industry and any outdoor power equipment, but not including:
  
  (a) motor vehicles required to be registered pursuant to § 56-3-110;
  
  (b) motorcycles as defined in § 56-16-10;
  
  (c) outdoor power equipment whose primary source of power is a two-cycle or electric motor;
  
  (d) "all terrain vehicles" or "ATVs" that are three-and-four-wheeled motorized vehicles, generally characterized by large, low-pressure tires, a seat designed to be straddled by the operator and handlebars for steering, which are intended for off-road use by an individual rider on various types of nonpaved terrain;
  
  (e) cranes; or
  
  (f) pneumatic tires, tubes, and flaps and related products and components associated with tires, including tires used in farm, construction, industrial, outdoor power, mining, and other on-and-off road applications. See South Carolina Code 39-6-20
• equipment dealer: means a person who sells or attempts to effect the sale of equipment, but not including a:
  
  (a) distributor or wholesaler;
  
  (b) receiver, trustee, administrator, executor, guardian, or other person appointed by or acting pursuant to the judgment or order of a court;
  
  (c) public officer while performing his official duties;
  
  (d) person disposing of equipment acquired for his own use and used in good faith, not for the purpose of avoiding the law;
  
  (e) finance company or other financial institution that sells repossessed equipment;
  
  (f) single line dealer primarily engaged in the retail sale and service of off-road construction and earth-moving equipment. See South Carolina Code 39-6-20
• Executor: A male person named in a will to carry out the decedent
• Factory branch: means a branch office maintained by a manufacturer that makes or assembles equipment for sale to distributors or equipment dealers or that is maintained for directing and supervising the representatives of the manufacturer. See South Carolina Code 39-6-20
• 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}
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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.
• Manufacturer: means a person engaged in the business of manufacturing or assembling new and unused equipment. See South Carolina Code 39-6-20
• Member: means each incorporator of a cooperative and each person admitted to and retaining membership therein and includes a husband and wife admitted to joint membership. See South Carolina Code 33-46-20
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• multi-line dealer: is a ny individual, partnership, corporation, limited liability company, or other legal entity that has:
  
  (i) purchased less than fifty percent of its total new product inventory from a single supplier under all agreements with that supplier; and
  
  (ii) a total annual average sales volume in excess of fifty million dollars. See South Carolina Code 39-6-20
• New equipment: means equipment that has not been sold previously to a person other than a distributor or wholesaler or equipment dealer for resale. See South Carolina Code 39-6-20
• 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 natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision, or agency thereof, or any body politic. See South Carolina Code 33-46-20
• Person: means a natural person, corporation, partnership, trust, or other entity, including any other entity in which it has a majority interest or of which it has control, as well as the individual officers, directors, and other persons in active control of the activities of each entity. See South Carolina Code 39-6-20
• Quorum: The number of legislators that must be present to do business.
• Sale: means the issuance, transfer, agreement for transfer, exchange, pledge, hypothecation, or mortgage, whether by transfer in trust or any other form, of any equipment or interest in it or of a dealership agreement or sales agreement related to it, and any option, subscription, or contract, or solicitation, looking to a sale, or offer or attempt to sell, whether spoken or written, or any other form. See South Carolina Code 39-6-20
• Service of process: The service of writs or summonses to the appropriate party.
• single line dealer: is a ny individual, partnership, corporation, limited liability company, or other legal entity that has:
  
  (i) purchased seventy-five percent or more of its total new product inventory from a single supplier under all agreements with that supplier; and
  
  (ii) a total annual average sales volume in excess of forty-five million dollars for the preceding two years with that single supplier for the territory for which the individual, partnership, corporation, limited liability company, or other legal entity is responsible; or
  
  (g) a person or business who sells only component parts of equipment;
  
  (h) multi-line dealer primarily engaged in the retail sale and service of industry and outdoor power equipment. See South Carolina Code 39-6-20
• Telephone cooperative: means a corporation which is financed, now or formerly, in whole or in part by the Department of Agriculture made under the provisions of the Rural Electric Act of 1936, Title 26, Section 922 of the United States Code, and acts amendatory thereto for the purposes of owning or operating in this State equipment or facilities for the transmission of intelligence through a communication service system including, but not limited to, telephone services, mobile radio, and cable television on a cooperative basis as is tax exempt pursuant to Internal Revenue Service Code 501(c)(12) or an association of like corporations exempt from tax pursuant to 501(c)(6), or operated under a cooperative basis pursuant to Subchapter T of the Internal Revenue Code and originally incorporated pursuant to Title 33, Chapter 45 of the South Carolina Code of Laws or this chapter. See South Carolina Code 33-46-20
• Telephone service: means the providing of communication service including, but not limited to, the transmission of voice, sounds, signals, pictures, writing, or signs of all kinds through the use of electricity or the electromagnetic spectrum between the transmitting and receiving apparatus, together with any communication services requiring band-width capacity, community antenna, and cable television services and including all lines, wires, radio, lights, electromagnetic impulse and all facilities, systems, or other means used in the rendition of such services, but not including message telegram service or radio broadcasting services or facilities within the meaning of Section 3(o) of the Federal Communications Act of 1934, as amended (47 USC Section 153(o)). See South Carolina Code 33-46-20
• 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.
• Trustee: A person or institution holding and administering property in trust.