Terms Used In CFR > Title 46 > Chapter I > Subchapter T - Small Passenger Vessels (Under 100 Gross Tons)

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Chambers: A judge's office.
• Conviction: A judgement of guilt against a criminal defendant.
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• 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
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• inflatable life jacket: means one that depends upon nonrigid, gas-filled chambers for buoyancy, and which is normally kept uninflated until ready to use. See 46 CFR 175.400
• Lien: A claim against real or personal property in satisfaction of a debt.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Quorum: The number of legislators that must be present to do business.
• Recess: A temporary interruption of the legislative business.
• territory: includes the Commonwealth of Puerto Rico, all possessions of the United States, and all lands held by the United States under a protectorate or mandate. See 46 CFR 175.400
• trunk: means a large enclosed passageway through any deck or bulkhead of a vessel. See 46 CFR 175.400
• Trustee: A person or institution holding and administering property in trust.
• United States: when used in a geographical sense shall include only the States and the District of Columbia. See 27 CFR 44.11
• weather deck: means the uppermost deck exposed to the weather to which a weathertight sideshell extends. See 46 CFR 175.400