Terms Used In Florida Statutes > Chapter 861 - Offenses Related to Public Roads, Transport, and Waters

• Buyer: means any individual who is solicited to purchase, or who purchases, the services of a credit service organization. See Florida Statutes 817.7001
• 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.
• Credit counseling agency: means any organization providing debt management services or credit counseling services. See Florida Statutes 817.801
• Credit counseling services: means confidential money management, debt reduction, and financial educational services. See Florida Statutes 817.801
• Credit service organization: means any person who, with respect to the extension of credit by others, sells, provides, performs, or represents that he or she can or will sell, provide, or perform, in return for the payment of money or other valuable consideration, any of the following services:
  1. See Florida Statutes 817.7001
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt management services: means services provided to a debtor by a credit counseling organization for a fee to:
  (a) Effect the adjustment, compromise, or discharge of any unsecured account, note, or other indebtedness of the debtor; or
  (b) Receive from the debtor and disburse to a creditor any money or other thing of value. See Florida Statutes 817.801
• 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.
• Extension of credit: means the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes. See Florida Statutes 817.7001
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• 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}
• Fraud: Intentional deception resulting in injury to another.
• Grantor: The person who establishes a trust and places property into it.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• 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 any individual, corporation, partnership, trust, association, or other legal entity. See Florida Statutes 817.801
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• 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.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• 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.
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01