Terms Used In U.S. Code > Title 7 > Chapter 50 > Subchapter I - Real Estate Loans

• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• 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.
• Amendment in the nature of a substitute: An amendment that would strike out the entire text of a bill or other measure and insert a different full text.
• Amortization: Paying off a loan by regular installments.
• 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.
• Appraisal: A determination of property value.
• 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.
• association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
• 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.
• beginning farmer or rancher: means such term as defined by the Secretary. See 7 USC 1991
• Board: means the Pecan Marketing Board established in section 6005(b) of this title. See 7 USC 6002
• Board: means the Lime Board provided for under section 6204(b) of this title. See 7 USC 6202
• borrower: means any farm borrower who has outstanding obligations to the Secretary under any farmer program loan, without regard to whether the loan has been accelerated, but does not include any farm borrower all of whose loans and accounts have been foreclosed on or liquidated, voluntarily or otherwise. See 7 USC 1991
• Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
• commerce: means interstate, foreign, or intrastate commerce. See 7 USC 6102
• Committee amendment: An amendment recommended by a committee in reporting a bill or other measure.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Conferees: Legislators appointed to serve on conference committees. They are also called "managers." Conferees are usually appointed from the committee or committees that reported the legislation; they are expected to try and uphold their chamber's position on measures when they negotiate with conferees from the other chamber.
• Conference report: The compromise product negotiated by the conference committee. The "conference report" is submitted to each chamber for its consideration, such as approval or disapproval.
• Congressional Record: The substantially verbatim account of daily proceedings in Congress. It is printed for each day Congress is in session. At the back of each daily issue is the "Daily Digest," which summarizes the day's floor and committee activities.
• consumer information: means information and programs that will assist consumers and other persons in making evaluations and decisions regarding the purchase, preparation, and use of mushrooms. See 7 USC 6102
• consumer information: means any action taken to provide information to, and broaden the understanding of, the general public regarding the use, nutritional attributes, and care of limes. See 7 USC 6202
• Contract: A legal written agreement that becomes binding when signed.
• contract of insurance: includes a contract of guarantee. See 7 USC 1991
• 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.
• Council: means the Mushroom Council established under section 6104(b) of this title. See 7 USC 6102
• county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 1 USC 2
• Department: means the Department of Agriculture. See 7 USC 6002
• Department: means the Department of Agriculture. See 7 USC 6102
• Dependent: A person dependent for support upon another.
• direct loan: means a loan made or insured from funds in the account created by section 1929 of this title. See 7 USC 1991
• Discretionary spending: Spending (budget authority and outlays)controlled in annual appropriations acts.
• district: means a geographical area of the United States, as determined by the Board and approved by the Secretary, in which there is produced approximately one-fourth of the volume of pecans produced in the United States. See 7 USC 6002
• Engrossed bill: The official copy of a bill or joint resolution passed by a chamber of the legislature.
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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.
• 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.
• farmer: includes a person who is engaged in, or who, with assistance afforded under this chapter, intends to engage in, fish farming. See 7 USC 1991
• farming: shall be deemed to include fish farming. See 7 USC 1991
• 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}
• first handler: means any person, as described in an order issued under this chapter, who receives or otherwise acquires mushrooms from a producer and prepares for marketing or markets such mushrooms, or who prepares for marketing or markets mushrooms of that person's own production. See 7 USC 6102
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• grower: means any person engaged in the production and sale of pecans in the United States who owns, or who shares the ownership and risk of loss of, such pecans. See 7 USC 6002
• grower-sheller: means a person who&mdash. See 7 USC 6002
• handler: means any person in the business of handling limes. See 7 USC 6202
• importer: means any person who imports pecans from outside of the United States for sale in the United States. See 7 USC 6002
• importer: means any person who imports, on average, over 500,000 pounds of mushrooms annually from outside the United States. See 7 USC 6102
• importer: means any person who imports limes into the United States. See 7 USC 6202
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
• industry information: means information and programs that are designed to lead to the development of new markets and marketing strategies, increased efficiency, and activities to enhance the image of the mushroom industry. See 7 USC 6102
• insure: as used in this chapter includes guarantee, which means to guarantee the payment of a loan originated, held, and serviced by a private financial agency or other lender approved by the Secretary. See 7 USC 1991
• 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 committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• 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.
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• lime: means the fruit of a citrus latifolia tree for the fresh market. See 7 USC 6202
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Majority leader: see Floor Leaders
• marketing: means the sale or other disposition of mushrooms in any channel of commerce. See 7 USC 6102
• marketing: means the sale or other disposition of limes in commerce. See 7 USC 6202
• Minority leader: See Floor Leaders
• mushrooms: means all varieties of cultivated mushrooms grown within the United States for the fresh market, or imported into the United States for the fresh market, that are marketed, except that such term shall not include mushrooms that are commercially marinated, canned, frozen, cooked, blanched, dried, packaged in brine, or otherwise processed, as may be determined by the Secretary. See 7 USC 6102
• 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.
• officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
• order: means a lime research, promotion, and consumer information order issued by the Secretary under section 6203(a) of this title. See 7 USC 6202
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• owner-operator: shall include in the State of Hawaii the lessee-operator of real property in any case in which the Secretary determines that such real property cannot be acquired in fee simple by such lessee-operator, that adequate security is provided for the loan with respect to such real property for which such lessee-operator applies under this chapter, and that there is a reasonable probability of accomplishing the objectives and repayment of such loan. See 7 USC 1991
• 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 entity. See 7 USC 6002
• person: means any individual, group of individuals, partnership, corporation, association, cooperative, or any other legal entity. See 7 USC 6102
• person: means any individual, group of individuals, partnership, corporation, association, cooperative, or other legal entity. See 7 USC 6202
• plan: means a plan issued under section 6003 of this title. See 7 USC 6002
• Point of order: A claim made by a legislator from the floor that a rule of the legislature is being violated. If the Chair sustains the point of order, the action in violation of the rule is not permitted.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• producer: means any person engaged in the production of mushrooms who owns or who shares the ownership and risk of loss of such mushrooms and who produces, on average, over 500,000 pounds of mushrooms per year. See 7 USC 6102
• producer: means any person who produces limes in the United States for sale in commerce. See 7 USC 6202
• producer-handler: means any person who is both a producer and handler of limes. See 7 USC 6202
• promotion: means any action determined by the Secretary to enhance the image or desirability of mushrooms, including paid advertising. See 7 USC 6102
• promotion: means any action taken under this chapter (including paid advertising) to present a favorable image for limes to the general public with the express intent of improving the competitive position and stimulating the sale of limes. See 7 USC 6202
• Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• qualified beginning farmer or rancher: means an applicant, regardless of whether the applicant is participating in a program under section 1935 of this title&mdash. See 7 USC 1991
• Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reconciliation bill: A bill containing changes in law recommended pursuant to reconciliation instructions in a budget resolution. If the instructions pertain to only one committee in a chamber, that committee reports the reconciliation bill. If the instructions pertain to more than one committee, the Budget Committee reports an omnibus reconciliation bill, but it may not make substantive changes in the recommendations of the other committees.
• 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.
• research: means any type of study to advance the image, desirability, marketability, production, product development, quality, or nutritional value of mushrooms. See 7 USC 6102
• research: means any type of research relating to the use and nutritional value of limes and designed to advance the image, desirability, marketability, or quality of limes. See 7 USC 6202
• Secretary: means the Secretary of Agriculture. See 7 USC 6002
• Secretary: means the Secretary of Agriculture. See 7 USC 6102
• Secretary: means the Secretary of Agriculture. See 7 USC 6202
• 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 each of the 50 States of the United States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6202
• State: shall include each of the several States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territory of the Pacific Islands. See 7 USC 1991
• State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• 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.
• United States: means collectively the several States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6002
• United States: include the 50 States of the United States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6102
• United States: means the 50 States of the United States, the District of Columbia, and the Commonwealth of Puerto Rico. See 7 USC 6202
• writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1