Terms Used In Arizona Laws > Title 3 > Chapter 2 > Article 3 - Fertilizer Materials

• Account servicing: means the holding of documents or written instruments and the receipt and disbursement of payments according to the instructions of the parties to the documents or written instruments. See Arizona Laws 6-801
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Actuarial method: means the method of allocating each payment between finance charges and principal pursuant to which the payment is applied first to finance charges computed on the unpaid balance of principal for the time the balance is outstanding, and the remainder of the payment is subtracted from the unpaid principal amount. See Arizona Laws 6-601
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means an entity that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with the entity specified. See Arizona Laws 6-801
• Agency: means any business serving the public, which as part of its services accepts money for and on behalf of a licensee. See Arizona Laws 6-701
• Agent: means a person who receives compensation to regularly perform services specifically related to the conduct of the trust business. See Arizona Laws 6-851
• 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.
• Amount financed: means the amount of credit extended to a consumer on a consumer loan determined in accordance with the truth in lending act. See Arizona Laws 6-601
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Annual percentage rate: means the measure of the cost of credit, expressed as a yearly rate, that relates the amount and timing of value received by the consumer to the amount and timing of payments made, determined in accordance with the truth in lending act. See Arizona Laws 6-601
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Associate director: means the associate director of the environmental services division of the Arizona department of agriculture. See Arizona Laws 3-262
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Automated teller machine: means an automated device that is established by a bank, savings and loan association or credit union and that facilitates customer-bank communications activities, including taking deposits and disbursing cash drawn against a customer's deposit account or a customer's preapproved loan account, at a location separate from the home office or a branch. See Arizona Laws 6-101
• Bank: means a corporation that holds a banking permit issued pursuant to chapter 2 of this title. See Arizona Laws 6-101
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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}
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Branch office: means a place of business of a credit union, other than a principal office, at which deposits are received and checks are paid, but does not include premises used for computer operations, recordkeeping, accounting, storage, maintenance or other administrative or service functions. See Arizona Laws 6-501
• Branch office: means any office operated solely for the purpose of accepting money and performing other services for a licensee. See Arizona Laws 6-701
• Brand: means a term, design or trademark used in connection with one or several grades of commercial fertilizer. See Arizona Laws 3-262
• Bulk: means fertilizer materials delivered to the purchaser in the solid or liquid state, in a nonpackaged form to which a label cannot be attached. See Arizona Laws 3-262
• Capital: means share accounts, reserves and undivided earnings. See Arizona Laws 6-501
• Capital: means the total of outstanding common stock, preferred stock and surplus and undivided profits. See Arizona Laws 6-851
• Certificate: means a certificate of authority issued under this chapter to engage in trust business. See Arizona Laws 6-851
• Commercial fertilizer: means any substance that contains one or more recognized plant nutrients, that is used for its plant nutrient content and that is designed for use or claimed to have value in promoting plant growth, except unmanipulated animal and vegetable manures, and other products exempted by rule. See Arizona Laws 3-262
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means an individual who obtains a consumer lender loan for personal, family or household purposes. See Arizona Laws 6-601
• Consumer lender: means a person that advertises to make or procure, solicits or holds itself out to make or procure, or makes or procures consumer lender loans to consumers in this state. See Arizona Laws 6-601
• Consumer lender loans: means consumer loans, consumer revolving loans and home equity revolving loans. See Arizona Laws 6-601
• Consumer loan: means the direct closed end loan of money, whether unsecured or secured by personal or real property, in an amount of $10,000 or less that is subject to a finance charge in which only the principal amount of the loan is considered, and not any finance charges or other fees allowed pursuant to section 6-635, for the purpose of determining whether the consumer loan is $10,000 or less. See Arizona Laws 6-601
• Consumer loan rate: means the periodic rate of finance charges that applies to the outstanding principal balance of a consumer loan and that remains unpaid. See Arizona Laws 6-601
• Consumer revolving loan: means an open end revolving loan that is established pursuant to an agreement with an agreed on credit limit that does not exceed $10,000, that the consumer may pay in full at any time but has the privilege of paying in installments and that contemplates or provides that advances may be obtained from time to time by the consumer, through checks, drafts, items, credit access devices, orders for the payment of money, evidences of debt or similar means, whether or not negotiable. See Arizona Laws 6-601
• Contingency plan: means a document stating a trust company's means of conducting business and preserving records in the event of any power outage, flood or other physical emergency. See Arizona Laws 6-851
• Contract: A legal written agreement that becomes binding when signed.
• Control: means ownership or the power to vote, either directly or indirectly, more than twenty per cent of the outstanding voting shares of the controlled person. See Arizona Laws 6-801
• Conviction: A judgement of guilt against a criminal defendant.
• Corporate credit union: means a credit union whose field of membership consists of other credit unions and organizations or associations owned by or composed of credit unions and corporations or associations that primarily serve credit unions. See Arizona Laws 6-501
• 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.
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
• Creditor: means a person for whose benefit monies are being collected and disbursed by a licensee. See Arizona Laws 6-701
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt management company: means a corporation, company, firm, partnership, association or society, as well as a natural person, that for compensation engages in the business of receiving money, or evidences thereof, in this state or from a resident of this state as agent of a debtor for the purpose of distributing the same to his creditors in payment or partial payment of his obligations. See Arizona Laws 6-701
• Debtor: means a person from whom monies are being accepted for disbursement to creditors. See Arizona Laws 6-701
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Arizona department of agriculture. See Arizona Laws 3-101
• Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
• Deposit account: means a balance other than a share account held by a credit union including balances designated as special investment accounts, deposits, certificates of deposit, certificates of indebtedness, demand deposit accounts or other similar names. See Arizona Laws 6-501
• Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Discretionary assets: means those assets in which the trust company has the unilateral authority to determine investment strategies and execute investment transactions without seeking the concurrence, approval or authority from the customer or any other external party. See Arizona Laws 6-851
• Distributor: means any person who offers for sale, sells, barters, solicits business or otherwise supplies fertilizer materials. See Arizona Laws 3-262
• Division: means the financial institutions division within the department. See Arizona Laws 6-101
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Enterprise: means any person under the jurisdiction of the department other than a financial institution. See Arizona Laws 6-101
• 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.
• Escrow: means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or nonhappening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. See Arizona Laws 6-801
• Escrow agent: means any person engaged in the business of accepting escrows. See Arizona Laws 6-801
• Escrow business: means a commercial activity characterized by the regular and continuous carrying on of escrow transactions. See Arizona Laws 6-801
• Escrow property: means property, money, a written instrument or evidence of title or possession to real or personal property or any other thing of value. See Arizona Laws 6-801
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fertilizer material: means any substance or mixture of substances intended to be used for promoting or stimulating the growth of plants, increasing the productiveness of plants, improving the quality of crops or producing any chemical or physical change in the soil. See Arizona Laws 3-262
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means a personal representative, administrator, guardian, conservator, trustee, agent or other person who acts in a fiduciary capacity and who is not exempt by section 6-852. See Arizona Laws 6-851
• Fiduciary: means a personal representative, administrator, guardian, conservator, trustee, agent or other person who acts in a fiduciary capacity and who is not exempt by section 6-852. See Arizona Laws 6-851
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Finance charge: means the amount payable by a consumer incident to or as a condition of the extension of a consumer lender loan but does not include other fees allowed pursuant to section 6-635. See Arizona Laws 6-601
• Financial institution: means banks, trust companies, savings and loan associations, credit unions, consumer lenders, international banking facilities and financial institution holding companies under the jurisdiction of the department. See Arizona Laws 6-101
• 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.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Governmental unit: means a board, agency, department, authority, instrumentality or other unit or organization of the federal, state, county, municipal or other level of government. See Arizona Laws 6-501
• Grade: means the percentage of total nitrogen, available phosphate or soluble potash stated in whole numbers in the same terms, order and percentages as in the guaranteed analysis. See Arizona Laws 3-262
• Grantee: includes every person to whom an estate or interest in real property passes, in or by a deed. See Arizona Laws 1-215
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Home equity revolving loan: means an open end revolving loan that is made pursuant to an agreement with an agreed on credit limit that is not more than $10,000, that is secured by the consumer's principal residence and that provides that advances may be obtained from time to time by the consumer through checks, drafts, items, credit access devices, orders for the payment of money, evidences of debt or similar means, whether or not negotiable. See Arizona Laws 6-601
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insolvent: means that the value of a credit union's assets is less than its liabilities. See Arizona Laws 6-501
• insolvent: means the trust company does not possess assets that are at least equal to liabilities, required reserves and total issued and outstanding capital. See Arizona Laws 6-851
• Insuring organization: means the national credit union administration or successor organization or any other equivalent insurer approved by the deputy director. See Arizona Laws 6-501
• 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}
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• 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.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means a license issued under the authority of this chapter to make consumer lender loans in accordance with this chapter. See Arizona Laws 6-601
• License: means a license issued under this chapter. See Arizona Laws 6-701
• License: means a license issued pursuant to this chapter. See Arizona Laws 6-801
• Licensee: means a person licensed pursuant to this chapter. See Arizona Laws 6-601
• Licensee: means a corporation, company, firm, partnership, association or society, as well as a natural person, licensed by the deputy director to engage in the business of a debt management company pursuant to this chapter. See Arizona Laws 6-701
• Licensee: means a person licensed pursuant to this chapter. See Arizona Laws 6-801
• Lien: A claim against real or personal property in satisfaction of a debt.
• Liquid capital: means legal tender, capital in the form of certificates of deposit issued by banks, savings banks or savings and loan associations doing business in this state and insured by the federal deposit insurance corporation or any successor institution, including deposits to a single depository where excess deposit insurance is provided through a reciprocal deposit arrangement by participating banks, or direct obligations of the United States government with maturity of not more than five years. See Arizona Laws 6-851
• Manufacture: means to compound, produce, granulate, mix, blend or alter the composition of fertilizer materials. See Arizona Laws 3-262
• Membership share: means a balance held by a credit union and established by a member according to the standards prescribed by the credit union. See Arizona Laws 6-501
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Moral turpitude: means an offense, whether a misdemeanor or felony, that is related to extortion, burglary, larceny, bribery, embezzlement, robbery, racketeering, money laundering, forgery, fraud, murder, voluntary manslaughter or a sexual offense that requires the individual to register pursuant to section 13-3821. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• 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}
• National credit union administration: includes any successor to the organization or other agency or instrumentality of the United States that undertakes to discharge the purposes of the organization. See Arizona Laws 6-101
• negligently: import a want of such attention to the nature or probable consequence of the act or omission as a prudent man ordinarily bestows in acting in his own concerns. See Arizona Laws 1-215
• 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.
• Official sample: means any sample of fertilizer materials taken by the associate director or the associate director's agent and designated as official by the associate director. See Arizona Laws 3-262
• Organization: means any corporation, association, partnership, society, firm, syndicate, trust or other legal entity. See Arizona Laws 6-501
• 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.
• percentage: means the percentage by weight. See Arizona Laws 3-262
• Person: includes individual, partnership, association, firm or corporation. See Arizona Laws 3-262
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Personal property: All property that is not real property.
• Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Precomputed consumer loan: means a consumer loan that is payable in substantially equal, consecutive monthly installments that are applied to the unpaid balance of the principal and precomputed finance charges combined, subject to provisions for refund or credit in the event of prepayment and for deferral or default charges in the event of deferral or default. See Arizona Laws 6-601
• Primary plant nutrient: means total nitrogen, available phosphate or soluble potash. See Arizona Laws 3-262
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Regularly engaged in the business: means either:

  (a) Advertising to or any other solicitation of a resident of this state that offers a consumer loan and that occurs within this state. See Arizona Laws 6-601

• 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.
• Reserves: means allocations of retained income and includes regular and special reserves and any allowances for loan losses and investment losses. See Arizona Laws 6-501
• sale: includes exchange. See Arizona Laws 3-262
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• Share account: means a balance held by a credit union and established by a member according to this chapter, including balances designated as shares, share certificates, share draft accounts and membership shares. See Arizona Laws 6-501
• Specie: means coins having precious metal content. See Arizona Laws 6-851
• Statute: A law passed by a legislature.
• Subdivision trust: means an agreement in which title to real property or an interest therein is held for the limited purpose of holding, subdividing, developing or selling real property or an interest therein, or to facilitate any business transaction with respect thereto and under which agreement the trustee acts pursuant to direction of its beneficiaries, and without discretionary powers, with respect to the holding, subdivision, development or sale of real estate or an interest therein or the disposition of the proceeds therefrom. See Arizona Laws 6-801
• Surplus: means the total amount paid by shareholders in excess of the par or stated value of the shares of capital stock of a trust business in consideration for the shares. See Arizona Laws 6-851
• Ton: means a net weight of two thousand pounds avoirdupois. See Arizona Laws 3-262
• Trust business: means the holding out by a person to the public at large by advertising, solicitation or other means that the person is available to act as a fiduciary in this state and accepting and undertaking to perform the duties as such a fiduciary in the regular course of business. See Arizona Laws 6-851
• Trust company: means a corporation holding a certificate issued under this article. See Arizona Laws 6-851
• Trust company: means a corporation holding a certificate issued under this article. See Arizona Laws 6-851
• Trustee: A person or institution holding and administering property in trust.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Truth in lending act: means title I of the consumer credit protection act (15 United States Code §§ 1601 through 1666j), as amended, and the regulations promulgated under that act (Title 12 of the Code of Federal Regulations, Part 226), as amended. See Arizona Laws 6-601
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215