Arizona Laws 35-310. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 35-310
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Operating monies: means those treasury monies the interest from which is paid to the state general fund. See Arizona Laws 35-310
- Treasury monies: means all monies in the treasury of this state or coming lawfully into the possession or custody of the state treasurer. See Arizona Laws 35-310
- Trust monies: means treasury monies, other than operating monies, that are entrusted to the state treasurer for preservation and investment. See Arizona Laws 35-310
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. "Eligible depository" means any commercial or savings bank or savings and loan association with its principal place of business in the United States which is insured by the federal deposit insurance corporation or any successor, or any other insuring instrumentality of the United States, in accordance with the applicable law of the United States or credit union which is insured by the national credit union administration.
2. "Operating monies" means those treasury monies the interest from which is paid to the state general fund.
3. "Permanent endowment funds" means those funds or any part of a fund, established by law, to retain trust monies, not wholly expendable by the beneficiary on a current basis.
4. "Treasury monies" means all monies in the treasury of this state or coming lawfully into the possession or custody of the state treasurer.
5. "Trust monies" means treasury monies, other than operating monies, that are entrusted to the state treasurer for preservation and investment.