Terms Used In Arizona Laws > Title 35 > Chapter 2 > Article 2.1 - Money Management

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Board of deposit: means , in the case of a county, the board of supervisors, and in the case of a city or town, the common council. See Arizona Laws 35-321
• Capital structure: means the amount of the capital of the eligible depository shown by the latest call statement of condition as defined by rule of the department of insurance and financial institutions for the purpose of administration of this article. See Arizona Laws 35-321
• Collecting entity: means the entity from which the treasurer receives general funding including the county for collections performed by a county treasurer, the city for collections performed by a city treasurer or the district for collections performed by a district treasurer. See Arizona Laws 35-321
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Eligible depository: means any:

  (a) Commercial or savings bank or savings and loan association that has either a branch in this state or its principal place of business in this state and that is insured by the federal deposit insurance corporation or its successor or any other insuring instrumentality of the United States according to the applicable federal law. See Arizona Laws 35-321

• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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}
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• 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}
• 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.
• Permissible rate of interest: means a rate of interest that an eligible financial institution is permitted to pay by state or federal law or valid state rules or federal regulations. See Arizona Laws 35-321
• Property: includes both real and personal property. See Arizona Laws 1-215
• Public monies: includes subdivision monies. See Arizona Laws 35-321
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• State 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 35-321
• Subdivision: means any county, noncharter city or town. See Arizona Laws 35-321
• Subdivision monies: means all monies in the treasury of a subdivision or coming lawfully into the possession or custody of the treasurer. See Arizona Laws 35-321
• Treasurer: includes the treasurer or officer exercising the functions of treasurer of any subdivision but excludes the state treasurer. See Arizona Laws 35-321
• Trust funds: means those monies entrusted to a public body or official for preservation and investment, as prescribed by the instrument establishing such funds. See Arizona Laws 35-321
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215