Terms Used In U.S. Code > Title 7 > Chapter 101 > Subchapter II - Issuance of Orders for Promotion, Research, and Information Activities Regarding Agricultural Commodities

• Agency: means the Federal Housing Finance Agency, established under section 4511 of this title. See 12 USC 1422
• agricultural commodity: means &mdash. See 7 USC 7412
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank: means a bank established under the authority of this chapter. See 12 USC 1422
• board: means a board established under an order issued under section 7413 of this title. See 7 USC 7412
• classified school employee: means an employee of a State or of any political subdivision of a State, or an employee of a nonprofit entity, who works in any grade from prekindergarten through high school in any of the following occupational specialties:

  (A) Paraprofessional, including paraeducator services. See 20 USC 6682

• community financial institution: means a member&mdash. See 12 USC 1422
• Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. ^{Source: OCC}
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• conflict of interest: means a situation in which a member or employee of a board has a direct or indirect financial interest in a person that performs a service for, or enters into a contract with, a board for anything of economic value. See 7 USC 7412
• 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.
• Department: means the Department of Agriculture. See 7 USC 7412
• Dependent: A person dependent for support upon another.
• Director: means the Director of the Federal Housing Finance Agency. See 12 USC 1422
• 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}
• 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.
• Federal Home Loan Bank System: means the Federal Home Loan Banks under the supervision of the Director. See 12 USC 1422
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• first handler: means the first person who buys or takes possession of an agricultural commodity from a producer for marketing. See 7 USC 7412
• home mortgage: means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby. See 12 USC 1422
• home mortgage loan: means a loan made by a member upon the security of a home mortgage. See 12 USC 1422
• importer: means any person who imports an agricultural commodity from outside the United States for sale in the United States as a principal or as an agent, broker, or consignee of any person. See 7 USC 7412
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• information: means information and programs that are designed to increase&mdash. See 7 USC 7412
• insured depository institution: means &mdash. See 12 USC 1422
• 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}
• Joint resolution: A legislative measure which requires the approval of both chambers.
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• market: means to sell or to otherwise dispose of an agricultural commodity in interstate, foreign, or intrastate commerce. See 7 USC 7412
• member: means any institution which has subscribed for the stock of a Federal Home Loan Bank. See 12 USC 1422
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• order: means an order issued by the Secretary under section 7413 of this title that provides for a program of generic promotion, research, and information regarding agricultural commodities designed to&mdash. See 7 USC 7412
• Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
• 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 any individual, group of individuals, partnership, corporation, association, cooperative, or any other legal entity. See 7 USC 7412
• producer: means any person who is engaged in the production and sale of an agricultural commodity in the United States and who owns, or shares the ownership and risk of loss of, the agricultural commodity. See 7 USC 7412
• promotion: means any action taken by a board under an order, including paid advertising, to present a favorable image of an agricultural commodity to the public to improve the competitive position of the agricultural commodity in the marketplace and to stimulate sales of the agricultural commodity. See 7 USC 7412
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• 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}
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• research: means any type of test, study, or analysis designed to advance the image, desirability, use, marketability, production, product development, or quality of an agricultural commodity. See 7 USC 7412
• savings association: has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [12 U. See 12 USC 1422
• Secretary: means the Secretary of Agriculture. See 7 USC 7412
• State: means any of the States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States. See 7 USC 7412
• Subpoena: A command to a witness to appear and give testimony.
• suspend: means to issue a rule under section 553 of title 5 to temporarily prevent the operation of an order during a particular period of time specified in the rule. See 7 USC 7412
• terminate: means to issue a rule under section 553 of title 5 to cancel permanently the operation of an order beginning on a date certain specified in the rule. See 7 USC 7412
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trustee: A person or institution holding and administering property in trust.
• United States: means collectively the 50 States, the District of Columbia, the Commonwealth of Puerto Rico and the territories and possessions of the United States. See 7 USC 7412