Terms Used In Indiana Code > Title 15 > Article 18 > Chapter 5 - Indiana Dairy Industry Development

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board: refers to the Indiana dairy industry development board established by section 9 of this chapter. See Indiana Code 15-18-5-1
• commercial use: means sale for:

  Indiana Code 15-18-5-2

• 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.
• director: refers to the director of the Indiana state department of agriculture or the director's designee. See Indiana Code 15-18-5-3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Ex officio: Literally, by virtue of one's office.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• milk: means any class of milk produced by dairy cows in Indiana. See Indiana Code 15-18-5-4
• Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
• 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 an individual, a partnership, a limited liability company, a public or private corporation, a political subdivision (as defined in IC 36-1-2-13), a cooperative, a society, an association, or a fiduciary. See Indiana Code 15-18-5-5
• producer: means a person engaged in the production of milk in Indiana for commercial use, including a producer-processor. See Indiana Code 15-18-5-6
• producer-processor: means a producer who processes and markets the producer's own milk. See Indiana Code 15-18-5-7
• qualified program: means a state or regional dairy product promotion, research, or nutrition education program that:

  Indiana Code 15-18-5-8

• Quorum: The number of legislators that must be present to do business.
• 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.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5