Terms Used In Delaware Code > Title 12 > Chapter 38 - Treatment of Delaware Statutory Trusts

• Adult: means an individual who has attained 18 years of age. See Delaware Code Title 12 Sec. 39A-101
• Alcohol: means ethyl alcohol produced by the distillation of any fermented liquid, whether rectified or diluted with water or not, whatever may be the origin thereof, and includes synthetic ethyl alcohol, but it does not mean ethyl alcohol, diluted or not, that has been denatured or otherwise rendered unfit for beverage purposes. See Delaware Code Title 4 Sec. 101
• 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.
• Amortization: Paying off a loan by regular installments.
• 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.
• 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.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Ballot: means those portions of cardboard, paper or other material to be placed within the ballot frames of a voting machine or to be used for absentee voting in order to list the names of the offices to be voted for, the name of each candidate and the designation of the party by which the candidate is nominated, a space for the voter to write in the name of any candidate of that voter's choice for any office, and the statement of any question submitted with provision for a "yes" or "no" vote. See Delaware Code Title 15 Sec. 101
• Bank: means a bank or trust company created under this title or a national banking association created under the National Bank Act (12 U. See Delaware Code Title 5 Sec. 801
• banks: when used in this chapter, do not include such national banks, except as otherwise provided in subchapters VI and VII of this chapter. See Delaware Code Title 5 Sec. 701
• 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}
• Bequest: Property gifted by will.
• Board: means that body of individuals appointed by the Governor and confirmed by the Senate to serve or who otherwise serve as the State Board of Elections in accordance with Chapter 2 of this title, and are, as such, vested with the responsibility and power to see to the administration of the election laws of this State as more particularly defined in this title. See Delaware Code Title 15 Sec. 101
• Branch office: has the meaning specified in § 770 of this chapter and also includes a foreign branch office as specified in § 771 of this chapter. See Delaware Code Title 5 Sec. 796
• Child: means a person who has not reached the age of 18 years. See Delaware Code Title 1 Sec. 302
• Clerk: means clerk of election. See Delaware Code Title 15 Sec. 101
• Commissioner: means the person appointed by the Governor and confirmed by the Senate who serves as the Marijuana Commissioner for the State. See Delaware Code Title 4 Sec. 1302
• Commissioner: means the State Bank Commissioner of the State of Delaware. See Delaware Code Title 5 Sec. 801
• 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.
• Consumer: means an individual 21 years of age or older who purchases marijuana, marijuana products, or marijuana accessories for personal use by the individual or other individuals 21 years of age or older, but not for resale to others. See Delaware Code Title 4 Sec. 1302
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
• Decedent: A deceased person.
• Department: means the State Department of Elections, consisting of the State Board of Elections and such staff as the Board shall appoint under this title, but shall not include the State Election Commissioner. See Delaware Code Title 15 Sec. 101
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Devise: To gift property by will.
• Division: means the Division of Alcohol and Tobacco Enforcement. See Delaware Code Title 4 Sec. 1302
• Docket: A log containing brief entries of court proceedings.
• Emergency: means the respondent is in danger of incurring imminent serious physical harm or substantial economic loss or expense. See Delaware Code Title 12 Sec. 39A-101
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Executor: A male person named in a will to carry out the decedent
• Fiduciary: A trustee, executor, or administrator.
• Fraud: Intentional deception resulting in injury to another.
• Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• 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.
• Guardian: is a "guardian of the person" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
• Home state: means the state in which the respondent was physically present, including any period of temporary absence, for at least 6 consecutive months immediately before the filing of a petition for a protective order or the appointment of a guardian; or if none, the state in which the respondent was physically present, including any period of temporary absence, for at least 6 consecutive months ending within the 6 months prior to the filing of the petition. See Delaware Code Title 12 Sec. 39A-101
• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insured depository institution: has the meaning specified in 12 U. See Delaware Code Title 5 Sec. 796
• Inter vivos: Transfer of property from one living person to another living person.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• 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 any license or permit to cultivate, possess, manufacture, sell, transport, or test marijuana or marijuana products and accessories authorized or issued by the Commissioner under this chapter. See Delaware Code Title 4 Sec. 1302
• Marijuana: means as defined in § 4701 of Title 16. See Delaware Code Title 4 Sec. 1302
• Marijuana products: means products that are comprised of marijuana, including concentrated marijuana, and other ingredients and are intended for use or consumption, such as edible products, ointments, and tinctures. See Delaware Code Title 4 Sec. 1302
• Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Out-of-state bank holding company: has the meaning specified in the Bank Holding Company Act of 1956, as amended (12 U. See Delaware Code Title 5 Sec. 801
• 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.
• Party: means the respondent, petitioner, guardian, conservator, or any other person allowed by the Court to participate in a guardianship or protective proceeding. See Delaware Code Title 12 Sec. 39A-101
• Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
• Person: means as defined in § 302 of Title 1. See Delaware Code Title 4 Sec. 1302
• Person who is incapacitated: shall mean a "person with a disability" as that term is defined in § 3901(a)(2) of this title. See Delaware Code Title 12 Sec. 39A-101
• Person with a mental condition: includes every person with an emotional or psychiatric disorder or disability. See Delaware Code Title 1 Sec. 302
• Personal property: All property that is not real property.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Primary election: means an election at which voters registered as members of a major political party may vote to determine the nominees of that political party for the general election. See Delaware Code Title 15 Sec. 101
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• protected person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Delaware Code Title 12 Sec. 39A-101
• Protective order: means an order appointing a "guardian of the property" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
• Protective proceeding: means a judicial proceeding in which a protective order is sought or has been issued. See Delaware Code Title 12 Sec. 39A-101
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Delaware Code Title 12 Sec. 39A-101
• Registration record: means a voter's registration record maintained in the State's Election Management System, the list or file of registered voters sent to each election district for use by election officers on the day of the election, and until determined obsolete, it also applies to a voter's record maintained in the county master file. See Delaware Code Title 15 Sec. 101
• 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.
• Respondent: means an adult for whom a protective order or the appointment of a guardian is sought. See Delaware Code Title 12 Sec. 39A-101
• Retail marijuana: means "marijuana" as defined in § 4701 of Title 16, that is cultivated, manufactured, distributed, or sold by a licensed marijuana establishment. See Delaware Code Title 4 Sec. 1302
• Retail marijuana store: means an entity licensed to purchase marijuana from marijuana cultivation facilities; to purchase marijuana and marijuana products from marijuana product manufacturing facilities; and to sell marijuana and marijuana products to consumers. See Delaware Code Title 4 Sec. 1302
• Retailer: means the person permitted to sell alcoholic liquors in a store in the State, not for consumption on the premises. See Delaware Code Title 4 Sec. 101
• Sale: means every act of selling as defined in this section. See Delaware Code Title 4 Sec. 101
• Sell: means : solicit or receive an order for; keep or expose for sale; deliver for value or in any other way than purely gratuitously; keep with intent to sell; keep or transport in contravention of this title; traffic in; or for any valuable consideration, promised or obtained, directly or indirectly, or under any pretext or by any means whatsoever, procure or allow to be procured for any other person, to carry alcoholic liquors on one's person or to transport with one and with intent to sell the same, but not in any establishment where the sale thereof is allowed. See Delaware Code Title 4 Sec. 101
• Service of process: The service of writs or summonses to the appropriate party.
• Significant-connection state: means a state, other than the home state, with which a respondent has a significant connection other than mere physical presence and in which substantial evidence concerning the respondent is available. See Delaware Code Title 12 Sec. 39A-101
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
• Statute: A law passed by a legislature.
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Subsidiary: means , with respect to an out-of-state bank holding company:

  a. See Delaware Code Title 5 Sec. 801

• Summons: Another word for subpoena used by the criminal justice system.
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• 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.
• 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.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302