Terms Used In West Virginia Code > Chapter 5B > Article 2J - Natural Gas Liquids Economic Development Act

• Amortization: Paying off a loan by regular installments.
• 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.
• 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
• Approved securities: means cash, irrevocable letter of credit, bond issued by an insurance company licensed and in good standing in this state, or qualified power of attorney issued by an insurer pursuant to a producer underwriting agreement, or real estate located in this state that is unencumbered in, at least, the amount of minimum financial responsibility required as set forth by the insurance commissioner: Provided, That a pledge of real estate by a bondsman as an approved security is not permitted after July 1, 2024: Provided, however, That a bondsman who is licensed by the commissioner as of July 1, 2024, and has pledged real estate as security to conduct bonding business may continue to pledge real estate to operate as a bondsman until his or her license is voluntarily surrendered or revoked by the commissioner. See West Virginia Code 51-10-1
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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.
• Bailiff: a court officer who enforces the rules of behavior in courtrooms.
• 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}
• Beneficiary: means any person, except a member, who is entitled to an annuity or other benefit payable by the retirement system. See West Virginia Code 51-9-1a
• Board: means the Consolidated Public Retirement Board created pursuant to §. See West Virginia Code 51-9-1a
• Bonding business: means the business of becoming surety for compensation upon bonds in criminal cases in the State of West Virginia. See West Virginia Code 51-10-1
• Bondsman: means any person engaged in the bonding business who is approved and licensed under the provisions of this article who pledges cash or approved securities with the commissioner as security for bail bonds written in connection with a judicial proceeding and receives or is promised money or other things of value for the pledge. See West Virginia Code 51-10-1
• Charge to the jury: The judge's instructions to the jury concerning the law that applies to the facts of the case on trial.
• Commissioner: means the Insurance Commissioner of West Virginia, as defined in §. See West Virginia Code 51-10-1
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Employer error: means an omission, misrepresentation or deliberate act in violation of relevant provisions of the West Virginia Code or of the West Virginia Code of State Rules or the relevant provisions of both the West Virginia Code and of the West Virginia Code of State Rules by the participating public employer that has resulted in an underpayment or overpayment of contributions required. See West Virginia Code 51-9-1a
• Final average salary: means the average of the highest 36 consecutive months' compensation received by the member as a judge of any court of record of this state. See West Virginia Code 51-9-1a
• 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
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• 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.
• Insurer: means any domestic, foreign, or alien person, including a surety company, which has been qualified generally to transact surety business in the State of West Virginia. See West Virginia Code 51-10-1
• 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}
• Internal Revenue Code: means the Internal Revenue Code of 1986, as it has been amended. See West Virginia Code 51-9-1a
• judge of any court of record of this state: means , refers to, and includes judges of the several family courts, circuit courts, judges of the Intermediate Court of Appeals, and justices of the Supreme Court of Appeals. See West Virginia Code 51-9-1a
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Member: means a judge participating in this system. See West Virginia Code 51-9-1a
• Oversight: Committee review of the activities of a Federal agency or program.
• 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}
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Required beginning date: means April 1 of the calendar year following the later of: (1) The calendar year in which the member attains age 70. See West Virginia Code 51-9-1a
• Statute: A law passed by a legislature.
• system: means the Judges' Retirement System created and established by this article. See West Virginia Code 51-9-1a
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.