Terms Used In South Carolina Code > Title 33 > Chapter 46 > Article 5 - Directors

• 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.
• Articles of incorporation: means the articles of conversion of a corporation converted to a telephone cooperative pursuant to Article 8 of this chapter. See South Carolina Code 33-46-20
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Contract: A legal written agreement that becomes binding when signed.
• 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
• Dealership agreement: means an oral or written arrangement for a definite or indefinite period in which a manufacturer, distributor, or wholesaler grants to an equipment dealer a license to use a trade name, service mark, or related characteristic, and in which there is a community of interest in the marketing of equipment or services related to it at wholesale, retail, leasing, or otherwise. See South Carolina Code 39-6-20
• 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
• Distributor representative: means a representative employed by a distributor branch or distributor. 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
• 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.
• 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
• Factory representative: means a representative employed by a manufacturer or by a factory branch for the purpose of selling or promoting the sale of equipment or for supervising, servicing, instructing, or contracting with equipment dealers or prospective equipment dealers. See South Carolina Code 39-6-20
• 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}
• 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
• 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
• 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.
• 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
• Personal property: All property that is not real property.
• Quorum: The number of legislators that must be present to do business.
• 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.
• 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
• 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