Terms Used In South Carolina Code > Title 9 > Chapter 3 - Coverage of Public Officers and Employees Under Federal Social Security Act

• Affiliate: means a person who directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with, another person. See South Carolina Code 11-47-20
• Allocable share: means allocable share as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• 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.
• ANSI: means the American National Standards Institute. See South Carolina Code 10-5-220
• 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.
• 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: means all funds, investments, and similar property of the retirement system. See South Carolina Code 9-16-10
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the South Carolina Resources Authority. See South Carolina Code 11-37-20
• Board: means the Board of Directors of the South Carolina Public Employee Benefit Authority acting as trustee of the retirement system. See South Carolina Code 9-16-10
• Board: means the Accessibility Committee for the South Carolina Building Codes Council as established in this chapter. See South Carolina Code 10-5-220
• Bonds: means any bonds, notes, debentures, interim certificates, bond, grant or revenue anticipation notes, or any other evidence of indebtedness of the authority. See South Carolina Code 11-37-20
• Building Code: means the building code adopted by § 6-9-50(A). See South Carolina Code 10-5-220
• Capital reserve fund: means any reserve fund created and established by the authority pursuant to this chapter. See South Carolina Code 11-37-20
• cigarette: includes "roll-your-own" (any tobacco which, because of its appearance, type, packaging, or labeling is suitable for use and likely to be offered to, or purchased by, consumers as tobacco for making cigarettes). See South Carolina Code 11-47-20
• Commission: means the Retirement System Investment Commission. See South Carolina Code 9-16-10
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• 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 session: A portion of the Senate's daily session in which it considers executive business.
• Facilities: means all building elements defined or specified by ANSI A117. See South Carolina Code 10-5-220
• 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: means a person who:
  
  (a) exercises any authority to invest or manage assets of a system;
  
  (b) provides investment advice for a fee or other direct or indirect compensation with respect to assets of a system or has any authority or responsibility to do so;
  
  (c) is a member of the commission;
  
  (d) is the commission's chief investment officer; or
  
  (e) is the commission's chief executive officer. See South Carolina Code 9-16-10
• 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.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• 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}
• Joint resolution: A legislative measure which requires the approval of both chambers.
• 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.
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local government: means any county, municipality, special purpose or special service district, or Commission of Public Works of the State and any private eleemosynary water companies, private eleemosynary sewer companies, and private eleemosynary companies which provide both water and sewer services. See South Carolina Code 11-37-20
• Local obligations: means any bonds, notes, debentures, interim certificates, bond, grant, or revenue anticipation notes, or any other evidences of indebtedness of a local government. See South Carolina Code 11-37-20
• Master Settlement Agreement: means the settlement agreement and related documents entered into on November 23, 1998, by the State and leading United States tobacco product manufacturers. See South Carolina Code 11-47-20
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Participant: means an individual who is or has been an employee enrolled in a retirement program and who is or may become eligible to receive or is currently receiving a benefit under the program. See South Carolina Code 9-16-10
• person: means an individual, partnership, committee, association, corporation, or any other organizations or group of persons. See South Carolina Code 11-47-20
• Personal property: All property that is not real property.
• Project: means any water supply, sewer system, sewage, wastewater treatment facility, or any other project hereafter committed to the authority by subsequent enactment of the General Assembly. See South Carolina Code 11-37-20
• Public buildings: means all buildings, structures, and facilities used by the public that are constructed, purchased, leased, or rented by the use of private funds, including rental apartment complexes of twenty units or more and temporary lodging facilities of twenty units or more, except that the provisions of this article apply to only five percent of those units or a minimum of one unit, whichever is the greater, and provided, further, that the provisions of this article do not apply to a private residence. See South Carolina Code 10-5-220
• Quorum: The number of legislators that must be present to do business.
• Released claims: means released claims as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• Releasing parties: means releasing parties as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• 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.
• Retirement system: means the South Carolina Retirement System, Retirement System for Judges and Solicitors, Retirement System for Members of the General Assembly, National Guard Retirement System, and Police Officers Retirement System established pursuant to Chapters 1, 8, 9, 10 and 11 of this title. See South Carolina Code 9-16-10
• 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.
• Tobacco product manufacturer: means an entity that after the date of enactment of this act (and not exclusively through any affiliate):
  
  (1) manufactures cigarettes anywhere that such manufacturer intends to be sold in the United States, including cigarettes intended to be sold in the United States through an importer (except where such importer is an original participating manufacturer (as that term is defined in the Master Settlement Agreement) that will be responsible for the payments under the Master Settlement Agreement with respect to such cigarettes as a result of the provisions of subsection II(mm) of the Master Settlement Agreement and that pays the taxes specified in subsection II(z) of the Master Settlement Agreement, and provided that the manufacturer of such cigarettes does not market or advertise such cigarettes in the United States);
  
  (2) is the first purchaser anywhere for resale in the United States of cigarettes manufactured anywhere that the manufacturer does not intend to be sold in the United States; or
  
  (3) becomes a successor of an entity described in subitem (1) or (2). See South Carolina Code 11-47-20
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trustee: means the Board of Directors of the South Carolina Public Employee Benefit Authority. See South Carolina Code 9-16-10
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Units sold: means the number of individual cigarettes sold in the State by the applicable tobacco product manufacturer (whether directly or through a distributor, retailer, or similar intermediary or intermediaries) during the year in question, as measured by excise taxes collected by the State on packs (or "roll-your-own" tobacco containers). See South Carolina Code 11-47-20