Terms Used In South Carolina Code > Title 9 > Chapter 4 - South Carolina Public Employee Benefit Authority

• 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.
• 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
• 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
• Brand family: means all styles of cigarettes sold under the same trademark and differentiated from one another by means of additional modifiers or descriptors including, but not limited to, menthol, lights, kings, and 100s and includes the use of a brand name alone or in conjunction with another word, trademark, logo, symbol, motto, selling message, recognizable pattern of colors, or any other indicia of product identification identical or similar to, or identifiable with, a previously known brand of cigarettes. See South Carolina Code 11-48-20
• 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 distributor: means a person required to pay the tax imposed by § 12-21-620 or authorized to affix a tax stamp to a cigarette package pursuant to Title 12. See South Carolina Code 11-48-20
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fiduciary: A trustee, executor, or administrator.
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• 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.
• 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}
• 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
• Nonparticipating manufacturer: means a tobacco product manufacturer that is not a participating manufacturer. See South Carolina Code 11-48-20
• Participating manufacturer: has the meaning given that term in Section 11(jj) of the Master Settlement Agreement and all amendments to it. See South Carolina Code 11-48-20
• Person: means :
  
  (a) an individual, labor union and organization, joint apprenticeship committee, partnership, association, corporation, legal representative, mutual company, joint-stock company, trust, unincorporated organization, trustee, trustee in bankruptcy, receiver, or other legal or commercial entity located in part or in whole in the State or doing business in the State;
  
  (b) the State and any agency or local subdivision of an agency; or
  
  (c) a political subdivision. See South Carolina Code 1-6-10
• Personal property: All property that is not real property.
• 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.
• 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
• Reserve fund requirement: means , as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement as established by the resolution of the authority authorizing the issuance of or by the trust indenture securing any issue of bonds. See South Carolina Code 11-37-20
• 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.
• Statute: A law passed by a legislature.