Terms Used In North Carolina General Statutes > Chapter 78A > Article 1 - Title and Definitions

• Administrator: means the Secretary of State. See North Carolina General Statutes 78A-2
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Dealer: means any person engaged in the business of effecting transactions in securities for the account of others or for his own account. See North Carolina General Statutes 78A-2
• Devise: To gift property by will.
• Entity: includes a corporation, joint-stock company, limited liability company, business trust, limited partnership or other partnership in which the interests of the partners are evidenced by a security, trust in which the interests of the beneficiaries are evidenced by a security, any other unincorporated organization in which two or more persons have a joint or common economic interest evidenced by a security, and government or political subdivision of a government. See North Carolina General Statutes 78A-2
• 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.
• following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guaranteed: means guaranteed as to payment of principal, interest, dividends, or other distributions. See North Carolina General Statutes 78A-2
• Issuer: means any person who issues or proposes to issue any security, except that

  a. See North Carolina General Statutes 78A-2

• 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}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, an entity, a partnership in which the interests of the partners are not evidenced by a security, a trust in which the interests of the beneficiaries are not evidenced by a security, or an unincorporated organization. See North Carolina General Statutes 78A-2
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• purchase: as used in this Chapter do not include any of the following:

  1. See North Carolina General Statutes 78A-2

• Salesman: means any individual other than a dealer who represents a dealer in effecting or attempting to effect purchases or sales of securities. See North Carolina General Statutes 78A-2
• Security: means any note; stock; treasury stock; bond; debenture; evidence of indebtedness; certificate of interest or participation in any profit-sharing agreement; collateral-trust certificate; preorganization certificate or subscription; transferable share; investment contract including without limitation any investment contract taking the form of a whiskey warehouse receipt or other investment of money in whiskey or malt beverages; voting-trust certificate; certificate of deposit for a security; certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under a title or lease; viatical settlement contract or any fractional or pooled interest in a viatical settlement contract; or, in general, any interest or instrument commonly known as a "security" or any certificate of interest or participation in, temporary or interim certificate for, receipt for guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See North Carolina General Statutes 78A-2
• Security covered under federal law: means any security that is a covered security under section 18(b) of the Securities Act of 1933 (15 U. See North Carolina General Statutes 78A-2
• sell: includes every contract of sale of, contract to sell, or disposition of, a security or interest in a security for value. See North Carolina General Statutes 78A-2
• 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.
• State: means any state, territory, or possession of the United States, the District of Columbia, and Puerto Rico. See North Carolina General Statutes 78A-2
• United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
• Viatical settlement contract: means an agreement for the purchase, sale, assignment, transfer, or devise of all or any portion of the death benefit or ownership of a life insurance policy or contract for consideration which is less than the expected death benefit of the life insurance policy or contract. See North Carolina General Statutes 78A-2