Terms Used In Vermont Statutes > Title 16 > Chapter 87 > Subchapter 8 - Vermont Universal Children's Higher Education Savings Account Program

• Accumulated contributions: means the sum of all the amounts deducted for Municipal Employees' Retirement System purposes from the compensation of a member with interest thereon, as provided in subsection 5063(b) of this title. See
• Actuarial equivalent: means a benefit of equal value under actuarial assumptions last adopted by the Retirement Board under subsection 5063a(h) of this title. See
• 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.
• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• 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.
• Annuity: means annual payments for life actuarially derived from the accumulated contributions of a member. See
• 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.
• 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 postsecondary education institution: means any institution of postsecondary education that is:

• Arraignment: A proceeding in which an individual who is accused of committing a crime is brought into court, told of the charges, and asked to plead guilty or not guilty.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Board: means the board established or designated as the housing board of review. See
• Board: means the Board of Trustees of the System provided for in section 5062 of this title to administer the System. See
• Committee: means the Vermont Universal Children's Higher Education Savings Account Program Fund Advisory Committee. See
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuous service: means those periods of service as an employee with all employers, provided all of the following conditions are met:

• 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.
• Corporation: means Vermont Student Assistance Corporation. See
• Creditable service: means that period of continuous service subsequent to an employee joining the System and prior to his or her termination of service, during which an employee makes contributions. See
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dwelling: means any building or structure or part thereof, including hotels and rooming houses, that is used, occupied, or intended to be used or occupied for human habitation, and includes dwelling premises, appurtenances, and facilities belonging to the dwelling or usually enjoyed therewith. See
• Dwelling premises: means the land and auxiliary buildings thereon used or intended to be used in connection with the dwelling. See
• Earnable compensation: means the total amounts paid to an employee for his or her position. See
• Eligible child: means a minor who is a Vermont resident at the time the Corporation deposits or allocates funds pursuant to this subchapter for his or her benefit. See
• Employee: means the following persons employed on a regular basis by a school district or by a supervisory union for no fewer than 1,040 hours in a year and for no fewer than 30 hours a week for the school year, as defined in 16 V. See
• Employer: means a municipality, a library at least one-half of whose operating expenses are paid from municipal funds, or a supervisory union. See
• Enforcing officer: means the head, or his or her duly authorized representative, of the division, bureau, office, department, or agency responsible for enforcing and administering any ordinance or regulation adopted under this chapter. See
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• 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.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Group A member: means a person employed by a participating municipality who does not elect to become a Group B, C, or D member under section 5068 of this title or does not become a Group B or C member pursuant to a collective bargaining agreement. See
• Group B member: means a person employed by a municipality who elects to become a Group B member under section 5068 of this title or becomes a Group B member pursuant to a collective bargaining agreement. See
• Group C member: means a person employed by a municipality who elects to become a Group C member under section 5068 of this title or becomes a Group C member pursuant to a collective bargaining agreement. See
• Group D member: means a person employed by a participating municipality who elects to become a Group D member under section 5068 of this title. See
• 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.
• Higher Education Act: means the federal Higher Education Act of 1965, Pub. See
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Investment Plan: means the plan created pursuant to subchapter 7 of this chapter. See
• 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}
• Legislative body: means the legislative body of a town, city, or incorporated village. See
• Legislative body: means the board of supervisors, board of commissioners, or other governing board of a solid waste management district. See
• 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.
• Member: means any employee included in the membership of the Retirement System under section 5053 of this title. See
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Municipality: means a city, town, or incorporated village. See
• Municipality: means a city, town, county, incorporated village, fire district, consolidated water district, housing authority, union municipal district, school district, incorporated school district, union school district, or any of their instrumentalities. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Necessity: means a reasonable need which considers the greatest public good and the least inconvenience and expense to the condemning party and to the property owner. See
• 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.
• Parents: means a student's parent or parents as determined by the Corporation consistently with the requirements of the federal financial assistance programs established under Title IV of the Higher Education Act. See
• Pension: means annual payments for life derived from contributions by the State and municipality. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Personal estate: shall include all property other than real estate. See
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Postsecondary education costs: means the qualified costs of tuition, fees, and other expenses for attendance at an institution of postsecondary education, as defined in the Internal Revenue Code of 1986, as amended, together with the regulations promulgated under that Code. See
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Program: means the Vermont Universal Children's Higher Education Savings Account Program. See
• Program beneficiary: means an individual who is or who was at one time an eligible child for whom the Corporation deposited or allocated funds pursuant to this subchapter and who has not yet attained 29 years of age or, for national service program participants, the extended maturity date. See
• Program Fund: means the Vermont Universal Children's Higher Education Savings Account Program Fund. See
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Regular interest: means interest at such rate or rates as may be established from time to time by the Board as provided in subsection 5063(b) of this title. See
• 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.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Resident: means , with respect to a student, a student who has been domiciled in Vermont for the year preceding the date of commencement of the relevant semester or academic program. See
• Respondent: means a person alleged to have violated a solid waste ordinance. See
• Retirement: means withdrawal from active service with a retirement allowance granted under the provisions of this chapter. See
• road: shall include bridges thereon and their approaches. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• Secretary: means the Secretary of Education. See
• selectboard: as used in this chapter , shall include the mayor and board of aldermen of a city and the president and trustees of an incorporated village. See
• Service: means service as an employee for which compensation is paid by an employer as defined in subdivision (11) of this section, service recognized under section 5054 of this title, or service prior to the effective date of the plan. See
• Service of process: The service of writs or summonses to the appropriate party.
• Solid waste ordinance: means an ordinance adopted pursuant to subdivision 2291(12) of this title. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• State Board: means the State Board of Education established by chapter 3 of this title. See
• Statute: A law passed by a legislature.
• Student: means any person who:

• Summons: Another word for subpoena used by the criminal justice system.
• sworn: shall include affirmed. See
• System: means the Municipal Employees' Retirement System of Vermont, as defined in section 5052 of this title. See
• 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.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• town: shall mean village or city. See
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Vermont resident: means an individual who is domiciled in Vermont as evidenced by the individual's intent to maintain a principal dwelling place in Vermont indefinitely and to return there if temporarily absent, coupled with an act or acts consistent with that intent. See
• Village: shall mean an incorporated village. See