Terms Used In Arizona Laws > Title 6 > Chapter 12 > Article 1 - Money Transmission

• Acquittal:
  1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
  2. A verdict of "not guilty."
   
• Acting in concert: means persons knowingly acting together with a common goal of jointly acquiring control of a licensee whether or not pursuant to an express agreement. See Arizona Laws 6-1201
• Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
• Adult: means a person who has attained eighteen years of age. See Arizona Laws 1-215
• 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.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Aggregator site: means a website that provides access to information regarding insurance products from more than one insurer, including product and insurer information, for use in comparison shopping. See Arizona Laws 20-3551
• 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.
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Applicant: means a provider that submits a credentialing application to a health insurer to become a participating provider in the health insurer's network. See Arizona Laws 20-3451
• Application: means an applicant's initial application to be credentialed as a participating provider. See Arizona Laws 20-3451
• 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
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Auditing entity: means any person, company, group or plan working on behalf of or pursuant to a contract with an insurer or pharmacy benefits manager for the purposes of auditing pharmacy drug claims adjudicated by pharmacies. See Arizona Laws 20-3321
• Authorized delegate: means a person that a licensee designates to engage in money transmission on behalf of the licensee. See Arizona Laws 6-1201
• Average daily money transmission liability: means the amount of the licensee's outstanding money transmission obligations at the end of each day in quarters ending March 31, June 30, September 30 and December 31, added together and divided by the total number of days in each quarter. See Arizona Laws 6-1201
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• 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}
• Blanket travel insurance: means a policy of travel insurance that is issued to any eligible group and that provides coverage for specific classes of persons defined in the policy with coverage provided to all members of the eligible group without a separate charge to individual members of the eligible group. See Arizona Laws 20-3551
• Branch: means any banking office other than the principal banking office. See Arizona Laws 6-101
• Bribe: means anything of value or advantage, present or prospective, asked, offered, given, accepted or promised with a corrupt intent to influence, unlawfully, the person to whom it is given in that person's action, vote or opinion, in any public or official capacity. See Arizona Laws 1-215
• Chambers: A judge's office.
• Classification of benefits: means the following classifications of benefits provided by a health plan:

  (a) Inpatient, in-network. See Arizona Laws 20-3501

• Clerical errors: means a minor recordkeeping or transcribing error, including typographical errors, scrivner's errors or computer errors, in a required electronic or hard copy document, record or prescription order if both of the following criteria are met:

  (a) The error did not result in actual financial harm to an entity. See Arizona Laws 20-3321

• Clinical practice guidelines: means a systematically developed statement to assist health care providers and patients in making decisions about appropriate health care for specific clinical circumstances and conditions. See Arizona Laws 20-3651
• Clinical review criteria: means the written screening procedures, decision abstracts, clinical protocols and practice guidelines that are used by a health care insurer, pharmacy benefit manager or utilization review agent to determine the medical necessity and appropriateness of health care services. See Arizona Laws 20-3651
• Closed loop stored value: means stored value that is redeemable by the issuer only for goods or services provided by the issuer or its affiliate or franchisees of the issuer or its affiliate, except to the extent required by applicable law to be redeemable in cash for its cash value. See Arizona Laws 6-1201
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Control: means :

  (a) The power to vote, directly or indirectly, at least twenty-five percent of the outstanding voting shares or voting interests of a licensee or person in control of a licensee. See Arizona Laws 6-1201

• 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.
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Credentialing: means to collect, verify and assess whether a provider meets relevant licensing, education and training requirements to become or remain a participating provider. See Arizona Laws 20-3451
• 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}
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the department of insurance and financial institutions. See Arizona Laws 6-101
• department: means the department of insurance and financial institutions. See Arizona Laws 20-101
• Dependent: A person dependent for support upon another.
• Designee: means a third party to whom the health insurer has delegated credentialing activities or responsibilities. See Arizona Laws 20-3451
• Desktop audit: means an audit that is conducted by an auditing entity at a location other than the location of the pharmacist or pharmacy. See Arizona Laws 20-3321
• Devise: To gift property by will.
• Docket: A log containing brief entries of court proceedings.
• 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 rating: means a credit rating of any of the three highest rating categories provided by an eligible rating service and each category may include rating category modifiers such as "plus" or "minus" for Standard and Poor's or the equivalent for any other eligible rating service. See Arizona Laws 6-1201
• Eligible rating service: means any nationally recognized statistical rating organization as defined by the United States securities and exchange commission and any other organization designated by the director. See Arizona Laws 6-1201
• Enrollee: means an individual or a dependent of that individual who is currently enrolled with and covered by a health care services plan. See Arizona Laws 20-3401
• 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}
• 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.
• Exigent circumstance: means the action of a health care insurer, pharmacy benefit manager or utilization review agent on a step therapy protocol exception request within the application of the time periods for making a nonexpedited decision, as determined and documented by the prescribing provider, could seriously jeopardize the insured's, enrollee's or subscriber's life, health or ability to regain maximum function or cause a significant negative change in the patient's medical condition. See Arizona Laws 20-3651
• Federally insured depository financial institution: means a bank, credit union, savings and loan association, trust company, savings association, savings bank, industrial bank or industrial loan company organized under the laws of the United States or any state of the United States, when the bank, credit union, savings and loan association, trust company, savings association, savings bank, industrial bank or industrial loan company has federally insured deposits. See Arizona Laws 6-1201
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Fulfillment materials: means documentation that is sent to the purchaser of a travel protection plan and that confirms the purchase and provides the travel protection plan's coverage and assistance details. See Arizona Laws 20-3551
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grand jury: means a body of the required number of qualified persons who are duly convened and impanelled by the presiding judge of the superior court and who are sworn to inquire into public offenses that may be tried within the county, including corrupt or willful misconduct in office of public officials within the county. See Arizona Laws 21-401
• Grantor: The person who establishes a trust and places property into it.
• Grantor: includes every person from or by whom an estate or interest in real property passes, in or by a deed. See Arizona Laws 1-215
• Group travel insurance: means travel insurance that is issued to any eligible group. See Arizona Laws 20-3551
• 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.
• Health care insurer: means a disability insurer, group disability insurer, blanket disability insurer, health care services organization, hospital service corporation, medical service corporation or hospital, medical, dental and optometric service corporation that issues a health plan in this state. See Arizona Laws 20-3501
• Health care plan: means a policy, contract or evidence of coverage that a health care insurer issues to an insured, enrollee or subscriber. See Arizona Laws 20-3651
• Health insurer: means a disability insurer, group disability insurer, blanket disability insurer, health care services organization, hospital service corporation, medical service corporation or a hospital, medical, dental and optometric service corporation and includes the health insurer's designee. See Arizona Laws 20-3451
• Health plan: means an individual health plan or accountable health plan that provides mental health services or mental health benefits, that finances or provides covered health care services, that is issued by a health care insurer in this state and that is subject to the mental health parity and addiction equity act. See Arizona Laws 20-3501
• In-pharmacy audit: means an audit that is conducted by an auditing entity at the physical business address of the pharmacy where the claim was adjudicated. See Arizona Laws 20-3321
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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.
• Indictment: means an accusatory statement that is in writing, that is presented by the grand jury to the superior court and that charges the commission of a public offense that may be tried within the county. See Arizona Laws 21-401
• Individual: means a natural person. See Arizona Laws 6-1201
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurer: means a disability insurer, group disability insurer, blanket disability insurer, health care services organization, hospital service corporation, medical service corporation or hospital and medical service corporation. See Arizona Laws 20-3321
• 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.
• Juror: A person who is on the jury.
• Jury commissioner: means the clerk of the superior court, except that in any county having a population of more than five hundred thousand persons, the presiding judge of the superior court may appoint a jury commissioner. See Arizona Laws 21-101
• Jury manager: means the person who is responsible for jury management in a justice of the peace court or a municipal court. See Arizona Laws 21-101
• Key individual: means any individual ultimately responsible for establishing or directing policies and procedures of the licensee, such as an executive officer, manager, director or trustee. See Arizona Laws 6-1201
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensee: means a person licensed under this article. See Arizona Laws 6-1201
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited lines travel insurance producer: means any of the following:

  (a) A licensed managing general agent or third-party administrator. See Arizona Laws 20-3551

• List: means the list of drugs for which a pharmacy benefit manager has established a maximum allowable cost. See Arizona Laws 20-3321
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loading: means to input a participating provider's information into a health insurer's billing system for the purpose of processing claims and submitting reimbursement for covered services. See Arizona Laws 20-3451
• Magistrate: means an officer having power to issue a warrant for the arrest of a person charged with a public offense and includes the chief justice and justices of the supreme court, judges of the superior court, judges of the court of appeals, justices of the peace and judges of a municipal court. See Arizona Laws 1-215
• Master jury file: means a list of prospective jurors who are randomly selected from the master jury list. See Arizona Laws 21-101
• Master jury list: means a record of the names and addresses of eligible persons who reside in the county and includes persons on the voter registration list of the county and other persons who are eligible for jury service and who have been licensed pursuant to Title 28, Chapter 8, Article 4 or 5. See Arizona Laws 21-101
• Material litigation: means litigation that, according to United States generally accepted accounting principles, is significant to a person's financial health and would be required to be disclosed in the person's annual audited financial statements, report to shareholders or similar records. See Arizona Laws 6-1201
• Medically necessary: means , with respect to a prescription drug, appropriate under the applicable standard of care:

  (a) To improve or preserve health, life or function. See Arizona Laws 20-3651

• Mental health parity and addiction equity act: means the mental health parity and addiction equity act of 2008 (42 United States Code § 300gg-26) and implementing regulations. See Arizona Laws 20-3501
• Methodologist: means a person that manages research design for the purpose of accurate and unbiased data collection and that has experience testing questions that are germane to the subject of the research. See Arizona Laws 20-3651
• Minor: means a person under eighteen years of age. See Arizona Laws 1-215
• Monetary value: means a medium of exchange, whether or not redeemable in money. See Arizona Laws 6-1201
• money received for transmission: means receiving money or monetary value in the United States for transmission within or outside the United States by electronic or other means. See Arizona Laws 6-1201
• Money services business accredited state: means a state agency that is accredited by a conference of state bank supervisors and money transmitter regulators association for money transmission licensing and supervision. See Arizona Laws 6-1201
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Multistate licensing process: means a procedure among state regulators relating to the coordinated processing of applications for money transmission licenses, applications for the acquisition of control of a licensee, control determinations or notice and information requirements for a change of key individuals. See Arizona Laws 6-1201
• municipal court: as used in this title includes city or town magistrates' courts and all other courts established by law in incorporated cities and towns. See Arizona Laws 22-401
• NMLS: means the nationwide multistate licensing system and registry that is developed by a conference of state bank supervisors and the American association of residential mortgage regulators and that is owned and operated by a state regulatory registry for the licensing and registration of persons in financial services industries. See Arizona Laws 6-1201
• 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.
• Offer and disseminate: means providing general information, including a description of the coverage and price, processing an application and collecting premiums. See Arizona Laws 20-3551
• Outstanding money transmission obligation: means either of the following:

  (a) Any payment instrument or stored value issued or sold by the licensee to a person located in the United States or reported as sold by an authorized delegate of the licensee to a person that is located in the United States that has not yet been paid or refunded by or for the licensee or escheated in accordance with applicable abandoned property laws. See Arizona Laws 6-1201

• Oversight: Committee review of the activities of a Federal agency or program.
• Participating provider: means a provider that has been credentialed by a health insurer or its designee to provide health care items or services to subscribers in at least one of the health insurer's provider networks. See Arizona Laws 20-3451
• 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.
• Passive investor: means a person that:

  (a) Does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees or other persons exercising managerial authority of a person in control of a licensee. See Arizona Laws 6-1201

• Person: means any individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation or other corporate entity identified by the director. See Arizona Laws 6-1201
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Petty offense: A federal misdemeanor punishable by six months or less in prison. ^{Source: U.S. Courts}
• Pharmaceutical sample: means a unit of a prescription drug that is not intended to be sold but is intended to promote the sale of the prescription drug. See Arizona Laws 20-3651
• Pharmacy benefit manager: means a person, business or other entity that, pursuant to a contract or under an employment relationship with an insurer or other third-party payor, either directly or through an intermediary manages the prescription drug coverage provided by the insurer or other third-party payor, including the processing and payment of claims for prescription drugs, the performance of drug utilization review, the processing of drug prior authorization requests, the adjudication of appeals or grievances related to prescription drug coverage, contracting with network pharmacies and controlling the cost of covered prescription drugs. See Arizona Laws 20-3321
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Plea agreement: An arrangement between the prosecutor, the defense attorney, and the defendant in which the defendant agrees to plead guilty in exchange for special considerations. ^Source:
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• 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.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Product network type: means the network model associated with the type of health plan under which covered health care is delivered, such as a health care services organization, preferred provider network organization, point of service plan or indemnity plan. See Arizona Laws 20-3501
• Property: includes both real and personal property. See Arizona Laws 1-215
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Provider: means a physician, hospital or other person that is licensed in this state or that is otherwise authorized to furnish health care services in this state. See Arizona Laws 20-3451
• Provider: means a physician, health care institution or other person or entity that is licensed or otherwise authorized to furnish health care services in this state. See Arizona Laws 20-3401
• 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.
• Recess: A temporary interruption of the legislative business.
• Registered mail: includes certified mail. See Arizona Laws 1-215
• 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.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• sent: means to deliver by United States mail, personal delivery or fax or by electronic means consistent with the requirements of section 20-239. See Arizona Laws 20-117
• 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.
• Statute: A law passed by a legislature.
• Step therapy exception: means a step therapy protocol that is overridden in favor of immediate coverage of a health care provider's selected prescription drug. See Arizona Laws 20-3651
• Step therapy protocol: means a protocol or program that establishes the specific sequence in which prescription drugs that are for a specified medical condition and that are medically necessary for a particular patient are covered by a health care insurer under a health care plan. See Arizona Laws 20-3651
• Subpoena: A command to a witness to appear and give testimony.
• Subscriber: means a person who is eligible to receive health care benefits pursuant to a health insurance policy or coverage issued or provided by a health insurer. See Arizona Laws 20-3451
• subscription: includes a mark, if a person cannot write, with the person's name written near it and witnessed by a person who writes the person's own name as witness. See Arizona Laws 1-215
• Summons: Another word for subpoena used by the criminal justice system.
• Tangible net worth: means the aggregate assets of a licensee excluding all intangible assets, minus liabilities, as determined in accordance with United States generally accepted accounting principles. See Arizona Laws 6-1201
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Third party: means a health insurer or pharmacy benefit manager that provides or manages drug coverage under a health care plan. See Arizona Laws 20-3341
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Travel protection plans: means plans that provide one or more of the following:

  (a) Travel insurance. See Arizona Laws 20-3551

• Travel retailer: means a business entity that makes, arranges or offers planned travel and may offer and disseminate travel insurance as a service to its customers on behalf of and under the direction of a limited lines travel insurance producer. See Arizona Laws 20-3551
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trial jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Voir dire: The process by which judges and lawyers select a petit jury from among those eligible to serve, by questioning them to determine knowledge of the facts of the case and a willingness to decide the case only on the evidence presented in court. "Voir dire" is a phrase meaning "to speak the truth."
• 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