Terms Used In Iowa Code > Chapter 12 - Treasurer of State

• Applicant: means a person authorized to regularly lend moneys to be secured by a mortgage on real property in this state, a licensed real estate broker, a licensed attorney, a participating abstractor, or a licensed closing agent. See Iowa Code 16.92
• 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: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means a department, or public or quasi-public instrumentality of the state including but not limited to the authority created under chapter 12E, 16, or 261A, which has the power to issue obligations, except that "authority" does not include the state board of regents or the Iowa finance authority to the extent the Iowa finance authority acts pursuant to chapter 260C. See Iowa Code 12.30
• Bequest: Property gifted by will.
• Child: includes child by adoption. See Iowa Code 4.1
• Contract: A legal written agreement that becomes binding when signed.
• Devise: To gift property by will.
• Division: means the Iowa title guaranty division in the authority, the director of the division, or a designee of the director. See Iowa Code 16.92
• Eligible borrower: means any person who is qualified to participate in one of the programs in this section and sections 12. See Iowa Code 12.32
• Eligible lending institution: means a financial institution that is empowered to make commercial loans and is eligible pursuant to chapter 12C to be a depository of state funds. See Iowa Code 12.32
• Energy conservation measure: means installation or modification of an installation in a building which is primarily intended to reduce energy consumption or allow the use of an alternative energy source, which may contain integral control and measurement devices. See Iowa Code 7D.34
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Financing agreement: means any lease, lease-purchase agreement, or installment acquisition contract in which the lessee may purchase the leased property at a price which is less than the fair market value of the property at the end of the lease term, or any lease, agreement, or transaction which would be considered under criteria established by the internal revenue service to be a conditional sale agreement for tax purposes. See Iowa Code 12.28
• 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 chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• 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}
• lessee: means a nonresident alien, foreign business, or foreign government, or an agent, trustee, or fiduciary acting on behalf of the nonresident alien, foreign business, or foreign government, or any other trade or business which is under the lessee's common control as provided in 26 U. See Iowa Code 9I.3
• Lien: A claim against real or personal property in satisfaction of a debt.
• Linked investment: means a certificate of deposit issued pursuant to this section and sections 12. See Iowa Code 12.32
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
• 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.
• Obligations: means notes, bonds, including refunding bonds, and other evidences of indebtedness of an authority. See Iowa Code 12.30
• person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
• Personal property: All property that is not real property.
• personal property: include money, goods, chattels, evidences of debt, and things in action. See Iowa Code 4.1
• property: includes personal and real property. See Iowa Code 4.1
• public funds: means public funds as defined in section 12C. See Iowa Code 12B.10C
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• 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.
• Signature: includes an electronic signature as defined in section 554D. See Iowa Code 4.1
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
• State agency: means a board, department, commission or authority of or acting on behalf of the state having the power to enter into contracts with or without the approval of the executive council to acquire property in its own name or in the name of the state. See Iowa Code 7D.34
• State agency: means a board, commission, bureau, division, office, department, or branch of state government. See Iowa Code 12.28
• 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: 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}
• week: means seven consecutive days. See Iowa Code 4.1
• year: means twelve consecutive months. See Iowa Code 4.1