Terms Used In Delaware Code > Title 30 > Chapter 23 - Cost of Occupational Licenses and Fees

• 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.
• 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: shall mean the Board of Pension Trustees established by § 8308 of this title. See Delaware Code Title 29 Sec. 5551
• Compensation: shall mean all salary, wages and fees, including overtime payments and special payments for extra duties, payable to a member for service credited under paragraph (4)a. See Delaware Code Title 29 Sec. 5551
• 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.
• Department: means the Department of Finance. See Delaware Code Title 30 Sec. 101
• Dependent: A person dependent for support upon another.
• Director: means the Director of the Division of Revenue or the Secretary of Finance of the State. See Delaware Code Title 30 Sec. 502
• Division of Revenue: means the Division of Revenue of the Department of Finance of the State. See Delaware Code Title 30 Sec. 502
• Employee: shall mean :

  a. See Delaware Code Title 29 Sec. 5551

• Fund: shall mean the Fund established by § 5593 of this title. See Delaware Code Title 29 Sec. 5551
• Inactive member: shall mean a member who:

  a. See Delaware Code Title 29 Sec. 5551

• 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}
• Member: shall mean a person who is an employee on or after the date the employer affiliates with the Fund. See Delaware Code Title 29 Sec. 5551
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• 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.
• Person: means and includes an individual, a trust, estate, partnership, association, company or corporation. See Delaware Code Title 30 Sec. 502
• Personal property: All property that is not real property.
• Retired member: shall mean a member who has terminated service, other than an inactive member, who is eligible to receive a service or disability pension under this chapter. See Delaware Code Title 29 Sec. 5551
• State: means a state of the United States, the District of Columbia, Puerto Rico, The United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 30 Sec. 502
• Tax: shall be deemed also to refer to license fees imposed under Part III of this title. See Delaware Code Title 30 Sec. 502
• Taxable: means any person, fiduciary, association of persons, syndicate, joint venture or copartnership subject to making return or to payment of tax imposed by this title. See Delaware Code Title 30 Sec. 101
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302