Idaho Code > Title 30 > Chapter 14 – Uniform Securities Act (2004)
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Terms Used In Idaho Code > Title 30 > Chapter 14 - Uniform Securities Act (2004)
- Account: means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and other like arrangement;
Idaho Code 15-6-101action: as used in this chapter is to be construed, whenever it is necessary so to do, as including a special proceeding of a civil nature. See Idaho Code 5-240 Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session. Administrator: means the director of the Idaho department of finance or his designee. See Idaho Code 30-14-102 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. Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or who represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities. See Idaho Code 30-14-102 Allegation: something that someone says happened. 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. 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. Apportionable estate: means the value of the gross estate as finally determined for purposes of the estate tax to be apportioned reduced by:
Idaho Code 15-3-1302Appraisal: A determination of property value. 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-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. 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. Bailiff: a court officer who enforces the rules of behavior in courtrooms. Bank: means :
Idaho Code 30-14-102Bankruptcy: 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 Beneficiary: means a person named in a trust account as one for whom a party to the account is named as trustee;
Idaho Code 15-6-101Bequest: Property gifted by will. Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Idaho Code 30-14-102 Chambers: A judge's office. Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes. Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority. Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records. Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself. Common disaster: A sudden and extraordinary misfortune that brings about the simultaneous or near-simultaneous deaths of two or more associated persons, such as husband and wife. Common enterprise: means an enterprise in which the fortunes of the investor are interwoven with those of either the person offering the investment, a third party, or other investors; and
Idaho Code 30-14-102Common 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. Communication technology: means an electronic device or process that:
Idaho Code 15-2-1102Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law. 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. 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. Court: means district courts of this state, including the magistrates division, and includes, when the context requires, any judge of the court;
Idaho Code 2-204Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Decedent: A deceased person. Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. 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. Depository institution: means :
Idaho Code 30-14-102Devise: To gift property by will. Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Docket: A log containing brief entries of court proceedings. Donee: The recipient of a gift. Donor: The person who makes a gift. Effective date: means the date the rates of contributions based on the valuation become effective pursuant to subsection (1) of this section. See Idaho Code 1-2004A Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Idaho Code 15-2-1102 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 Electronic presence: means the relationship of two (2) or more individuals in different locations communicating in real time by means of communication technology. See Idaho Code 15-2-1102 Electronic will: means a will executed electronically in compliance with section 15-2-1105(1), Idaho Code. See Idaho Code 15-2-1102 En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc. End date: means the date twenty-five (25) years after the valuation date. See Idaho Code 1-2004A Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. 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. Estate tax: means a federal, state, or foreign tax, however denominated, imposed because of the death of an individual and interest and penalties associated with the tax. See Idaho Code 15-3-1302 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. Ex officio: Literally, by virtue of one's office. Executor: A male person named in a will to carry out the decedent 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. Federal covered investment adviser: means a person registered under the investment advisers act of 1940, as cited in section 30-14-103, Idaho Code. See Idaho Code 30-14-102 Federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under section 18(b) of the securities act of 1933 (15 U. See Idaho Code 30-14-102 Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC Fiduciary: A trustee, executor, or administrator. Filing: means the receipt under this chapter of a record by the administrator or a designee of the administrator. See Idaho Code 30-14-102 Financial institution: means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, banks and trust companies, savings banks, building and loan associations, savings and loan companies or associations, and credit unions;
Idaho Code 15-6-101Fiscal 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. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC 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. Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Good cause: includes , but is not limited to:
Idaho Code 1-2001Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage, Grantor: The person who establishes a trust and places property into it. 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. Gross estate: means , with respect to an estate tax, all interests in property subject to the tax. See Idaho Code 15-3-1302 Guaranteed: means guaranteed as to payment of all principal and all interest. See Idaho Code 30-14-102 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. Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted. Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate. 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. Institutional investor: means any of the following, whether acting for itself or for others in a fiduciary capacity:
Idaho Code 30-14-102Insurance company: means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state. See Idaho Code 30-14-102 Insured: means insured as to payment of all principal and all interest. See Idaho Code 30-14-102 Inter vivos: Transfer of property from one living person to another living person. International banking institution: means an international financial institution of which the United States is a member and whose securities are exempt from registration under the securities act of 1933. See Idaho Code 30-14-102 Intestate: Dying without leaving a will. Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See Idaho Code 30-14-102 Investment adviser representative: means an individual employed by or associated with an investment adviser or federal covered investment adviser who makes any recommendations or otherwise gives investment advice regarding securities, manages accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice or holds herself or himself out as providing investment advice, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice, or supervises employees who perform any of the foregoing. See Idaho Code 30-14-102 Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor. Issuer: means a person that issues or proposes to issue a security, subject to the following:
Idaho Code 30-14-102Joint account: means an account payable on request to one (1) or more of two (2) or more parties whether or not mention is made of any right of survivorship;
Idaho Code 15-6-101Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants. 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. Jurisprudence: The study of law and the structure of the legal system. Juror: A person who is on the jury. 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 Legacy: A gift of property made by will. Legatee: A beneficiary of a decedent Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto). Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lien: A claim against real or personal property in satisfaction of a debt. Lineal descendant: Direct descendant of the same ancestors. Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Magistrate judges: Judicial officers who assist U.S. district judges in getting cases ready for trial, who may decide some criminal and civil trials when both parties agree to have the case heard by a magistrate judge instead of a judge. 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. Master jury list: means the voter registration lists for the county which shall be supplemented with names from other sources prescribed pursuant to section 2-206, Idaho Code, in order to foster the policy and protect the rights secured by sections 2-202 and 2-203, Idaho Code;
Idaho Code 2-204Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114 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. Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money. multiple-party account: is a ny of the following types of account:
Idaho Code 15-6-101nonissuer distribution: means a transaction or distribution not directly or indirectly for the benefit of the issuer. See Idaho Code 30-14-102 Oath: A promise to tell the truth. 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 to purchase: includes an attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value. See Idaho Code 30-14-102 Offer to sell: includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See Idaho Code 30-14-102 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 a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account. See Idaho Code 15-6-101 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 an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See Idaho Code 30-14-102 person: includes a corporation as well as a natural person;
Idaho Code 73-114Personal property: All property that is not real property. Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 Plaintiff: The person who files the complaint in a civil lawsuit. 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. 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 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. Predecessor act: means the act repealed by section 30-14-702, Idaho Code. See Idaho Code 30-14-102 Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial. Price amendment: means the amendment to a registration statement filed under the securities act of 1933 or, if an amendment is not filed, the prospectus or prospectus supplement filed under the securities act of 1933 that includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price. See Idaho Code 30-14-102 Probable cause: A reasonable ground for belief that the offender violated a specific law. Probate: Proving a will Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Projected salaries: means the sum of the annual salaries of all justices and judges. See Idaho Code 1-2004A Proof of death: includes a death certificate or record or report which is prima facie proof of death under section 15-1-107 of this code;
Idaho Code 15-6-101Property: includes both real and personal property. See Idaho Code 73-114 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Prospective jury panel: means the list of names or identifying numbers of prospective jurors drawn at random from the master jury list pursuant to section 2-208, Idaho Code, and who are not disqualified pursuant to section 2-209, Idaho Code. See Idaho Code 2-204 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. public 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 Idaho Code 30-14-102 Quorum: The number of legislators that must be present to do business. Ratable: means apportioned or allocated pro rata according to the relative values of interests to which the term is to be applied. See Idaho Code 15-3-1302 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Recess: A temporary interruption of the legislative 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 Idaho Code 15-2-1102 Registered mail: includes certified mail. See Idaho Code 73-114 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). Request: means a proper request for withdrawal, or a check or order for payment, which complies with all conditions of the account, including special requirements concerning necessary signatures and regulations of the financial institutions; but if the financial institution conditions withdrawal or payment on advance notice, for purposes of this part the request for withdrawal or payment is treated as immediately effective and a notice of intent to withdraw is treated as a request for withdrawal;
Idaho Code 15-6-101Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation. Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. retirement board: as used in this chapter shall mean the retirement board created by section 59-1304, Idaho Code. See Idaho Code 1-2001 Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust). Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners. Sale: includes every contract of sale, contract to sell, or disposition of, a security or interest in a security for value. See Idaho Code 30-14-102 Scheduled amortization amount: means the actuarial present value of future contributions payable as amortization payment from the valuation date until the effective date. See Idaho Code 1-2004A seal: includes an impression of such seal upon the paper, alone, as well as upon wax or a wafer affixed thereto; or, alternatively, the seal may be the mark of a rubber stamp providing substantially the same information as the impression. See Idaho Code 73-111 Securities and exchange commission: means the United States securities and exchange commission. See Idaho Code 30-14-102 Security: means a note; stock; treasury stock; security future; bond; debenture; evidence of indebtedness; certificate of interest or participation in a profit-sharing agreement; collateral trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting trust certificate; certificate of deposit for a security; fractional undivided interest in oil, gas or other mineral rights; put, call, straddle, option or privilege on a security, certificate of deposit, or group or index of securities, including an interest therein or based on the value thereof; put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; or, in general, an interest or instrument commonly known as a "security"; or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See Idaho Code 30-14-102 Self-regulatory organization: means a national securities exchange registered under the securities exchange act of 1934, a national securities association of broker-dealers registered under the securities exchange act of 1934, a clearing agency registered under the securities exchange act of 1934, or the municipal securities rulemaking board established under the securities exchange act of 1934. See Idaho Code 30-14-102 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. Sign: means , with present intent to authenticate or adopt a record:
Idaho Code 15-2-1102Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it. 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 Idaho Code 15-2-1102 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 Idaho Code 30-14-102 State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114 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. Subpoena: A command to a witness to appear and give testimony. Summons: Another word for subpoena used by the criminal justice system. Sums on deposit: means the balance payable on a multiple-party account including interest, dividends, and in addition any deposit life insurance proceeds added to the account by reason of the death of a party;
Idaho Code 15-6-101Tamper-evident: means a feature of an electronic record whereby evidence of any change to the electronic record is preserved. See Idaho Code 15-2-1102 Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property. Testate: To die leaving a will. Testator: A male person who leaves a will at death. Testatrix: The female counterpart of a testator. Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Time-limited interest: means an interest in property which terminates on a lapse of time or on the occurrence or nonoccurrence of an event or which is subject to the exercise of discretion that could transfer a beneficial interest to another person. See Idaho Code 15-3-1302 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. 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 Trust account: means an account in the name of one (1) or more parties as trustee for one (1) or more beneficiaries where the relationship is established by the form of the account and the deposit agreement with the financial institution and there is no subject of the trust other than the sums on deposit in the account; it is not essential that payment to the beneficiary be mentioned in the deposit agreement. See Idaho Code 15-6-101 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. Unfunded actuarial liability: means the excess of the actuarial present value of (i) over the sum of the actuarial present values of (ii), (iii) and (iv) as follows, all determined by the valuation as of the valuation date:
Idaho Code 1-2004AUniform 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 Valuation: means the most recent annual actuarial valuation. See Idaho Code 1-2004A Valuation date: means the date of such valuation. See Idaho Code 1-2004A Value: means , with respect to an interest in property, fair market value as finally determined for purposes of the estate tax that is to be apportioned, reduced by any outstanding debt secured by the interest without reduction:
Idaho Code 15-3-1302Venue: The geographical location in which a case is tried. Verdict: The decision of a petit jury or a judge. Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House. Voter registration lists: means the most current official records, maintained by the county clerk, of persons registered to vote in any national, state, county, or municipal election;
Idaho Code 2-204Will: includes a codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian, or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. See Idaho Code 15-2-1102 Withdrawal: includes payment to a third person pursuant to check or other directive of a party. See Idaho Code 15-6-101 Writ: A formal written command, issued from the court, requiring the performance of a specific act. Writ: signifies an order or precept in writing, issued in the name of the people, or of a court or judicial officer, and the word "process" a writ or summons issued in the course of judicial proceedings. See Idaho Code 73-114