Obligation (definition)
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. | ||
Federal Law | ||
means , with respect to any covered financial company—
(1) Any guarantee issued by the FDIC on behalf of the covered financial company; (2) Any amount borrowed pursuant to section 210(n)(5)(A) of the Act; and (3) Any other obligation with respect to the covered financial company for which the FDIC has a direct or contingent liability to pay any amount 31 CFR 149.2 |
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State Law | ||
Arizona | ||
means a debt, loss or liability or any other obligation arising in any manner, regardless of whether it is secured, contingent or liquidated Arizona Laws 29-2102 | ||
means a primary or contingent liability for the payment of money Arizona Laws 6-351 | ||
California | ||
means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement California Government Code 5051 | ||
Connecticut | ||
means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement Connecticut General Statutes 42b-1 | ||
Delaware | ||
includes an established duty, whether or not fixed, arising from an express or implied contractual, grantor-grantee, or licensor-licensee relationship, from a fee-based or similar relationship, from statute or regulation, or from the retention of any overpayment Delaware Code Title 6 Sec. 1202 | ||
Hawaii | ||
means any bond, debt, debenture, loan, note or similar undertaking Hawaii Revised Statutes 412:1-109 | ||
Idaho | ||
means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement Idaho Code 57-902 | ||
Indiana | ||
means an obligation to repay:
(1) the principal and interest on bonds; (2) lease rentals on leases; or (3) any other contractual obligation; payable from tax increment revenues Indiana Code 6-1.1-21.2-6.6 |
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refers to any obligation that is permitted or required by law to be paid from the fund under IC 20-40-9 or another law Indiana Code 20-46-7-3 | ||
Kansas | ||
means an agreement of an issuer to pay the principal and any interest on a bond Kansas Statutes 10-621 | ||
Kentucky | ||
means instruments in writing, which are not bonds within the meaning of this chapter, that evidence an obligation to repay money borrowed, or to pay interest by, or to pay at any future time other money obligations, including, without limitation, installment sale, lease, lease purchase, or similar agreements, which obligations bear interest or an interest equivalent Kentucky Statutes 66.011 | ||
Louisiana | ||
means a bond, note, debenture, trust certificate including an equipment certificate, production payment, negotiable bank certificate of deposit, bankers’ acceptance, and other evidence of indebtedness for the payment of money, or participations, certificates, or other evidences of an interest in any of the foregoing, whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment Louisiana Revised Statutes 22:601.1 | ||
means an amount which a government may be required legally to meet out of its resources Louisiana Revised Statutes 39:2 | ||
means an established duty, whether or not fixed, arising from an express or implied contractual, grantor, grantee, or licensor-licensee relationship, from a free-based or similar relationship, from statute or regulation, or from the retention of any overpayment Louisiana Revised Statutes 46:437.3 | ||
means any bond and any cooperative endeavor agreement, financing or loan agreement, lease, sublease, or other agreement creating a duty to repay borrowed money or for another duty to be performed Louisiana Revised Statutes 33:9039.65 | ||
means any bond and any cooperative endeavor agreement, financing or loan agreement, lease, sublease, or other agreement creating an obligation to repay borrowed money or for a duty to be performed Louisiana Revised Statutes 33:9039.103 | ||
means any retail installment sales contract, other contract for the purchase of goods or services, or bond, bill, note, or other instrument of writing for the payment of money arising out of the contract or other transaction for the purchase of goods or services Louisiana Revised Statutes 29:311 | ||
Maine | ||
means a bond, note, debenture, trust certificate including an equipment certificate, production payment, negotiable bank certificate of deposit, banker’s acceptance, credit tenant loan as that term is defined in the practices and procedures manual of the National Association of Insurance Commissioners or its successor publication, loan secured by financing net leases and other evidence of indebtedness for the payment of money, or participations, certificates or other evidence of an interest in any of the foregoing, whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment Maine Revised Statutes Title 24-A Sec. 1151-A | ||
Michigan | ||
means a bond, note, or other debt obligation issued by the building authority under section 8 Michigan Laws 830.411 | ||
means a written promise to pay, whether evidenced by a contract, agreement, lease, sublease, bond, or note, or a requirement to pay imposed by law Michigan Laws 125.4201, Michigan Laws 125.4301, Michigan Laws 125.4402 | ||
means an indebtedness incurred by an individual for personal, family, or household purposes Michigan Laws 445.271 | ||
means evidence of indebtedness including, but not limited to, a bond, refunding bond, revenue bond, note, certificate of indebtedness and other like instrument issued by a public corporation, and any coupon representing interest on the obligation Michigan Laws 129.131 | ||
Montana | ||
means a bond, note, debenture, trust certificate including an equipment certificate, production payment, negotiable bank certificate of deposit, bankers’ acceptance, credit tenant loan, loan secured by financing net leases, and other evidence of indebtedness for the payment of money (or participations, certificates, or other evidences of an interest in any of the foregoing), whether constituting a general obligation of the issuer or payable only out of certain revenue or certain funds pledged or otherwise dedicated for payment Montana Code 33-12-102 | ||
means an agreement of an issuer to pay principal and interest and includes a share, participation, or other interest in the agreement Montana Code 17-5-1102 | ||
means an established duty, whether fixed or not, arising from:
(a)an express or implied contractual, grantor-grantee, or licensor-licensee relationship; (b)a fee-based or similar relationship; (c)a statute or regulation; or (d)the retention of any overpayment Montana Code 17-8-402 |
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New York | ||
means an established duty, whether or not fixed, arising from an express or implied contractual, grantor-grantee, or licensor-licensee relationship, from a fee-based or similar relationship, from statute or regulation, or from the retention of any overpayment N.Y. State Finance Law 188 | ||
North Carolina | ||
means an agreement of a public entity issuer to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement or otherwise, and includes a share, participation, or other interest in any such agreement North Carolina General Statutes 159E-2 | ||
Rhode Island | ||
means an agreement of a public entity to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in that agreement Rhode Island General Laws 35-13-2 | ||
South Carolina | ||
means a bond, note, debenture, trust certificate including an equipment trust certificate, production payment, negotiable bank certificate of deposit, bankers’ acceptance, asset-backed security, credit tenant loan, loan secured by financing a net lease or net leases, and other evidence of indebtedness for the payment of money, or participations, certificates, or other evidences of an interest in any of them, whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment South Carolina Code 38-12-30 | ||
means any bond, revenue bond, note, lease, contract, evidence of indebtedness, debt, or other obligation of the authority, the State, or local governments which are authorized to be issued under this chapter or under the Constitution or other laws of this State, including refunding bonds South Carolina Code 11-40-30 | ||
Tennessee | ||
means a note, bond, debenture, trust certificate, equipment trust certificate, production payment, negotiable bank certificate of deposit, bankers’ acceptance, asset-backed security, NAIC-SVO credit tenant loan, loan secured by financing a net lease or net leases, and other evidence of indebtedness for the payment of money, or participations, certificates or other evidences of an interest in any of the obligations listed in this subdivision (29), whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment Tennessee Code 56-3-302 | ||
Utah | ||
includes a liability in tort and contractual obligations Utah Code 15-4-1 | ||
means an agreement by a public entity to pay principal and any interest on the obligation, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement Utah Code 15-7-2 | ||
means the same as that term is defined in Section |
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Vermont | ||
means an established duty, whether or not fixed, arising from an express or implied contractual, grantor-grantee, or licensor-licensee relationship; from a fee-based or similar relationship; from statute or regulation; or from the retention of any overpayment after the deadline for reporting and returning the overpayment under subdivision 631(a)(10) of this chapter | ||
means an obligation for a capital expenditure which is deemed to have been incurred by or on behalf of a health care facility or health maintenance organization | ||
means that a designated obligor shall be primarily liable on the instrument representing the obligation | ||
Virginia | ||
means a bond, debenture, note or other evidence of indebtedness Virginia Code 38.2-1401 | ||
means an established duty, whether or not fixed, arising from (i) an express or implied contractual, grantor-grantee, or licensor-licensee relationship; (ii) a fee-based or similar relationship; (iii) a statute or regulation; or (iv) the retention of any overpayment Virginia Code 8.01-216.2 |