Terms Used In Kentucky Statutes > Chapter 355 - Uniform Commercial Code

• Above-drainage: means coal in a coal bed that outcrops at the surface within a mine permit area and that is accessed at the outcrop location. See Kentucky Statutes 143.010
• Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
• Administrative regulation: means a written regulation promulgated, pursuant to
  KRS Chapter 13A, by the commissioner with the approval of the commission. See Kentucky Statutes 150.010
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• 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.
• Afternoon: means the period of a day between noon and midnight. See Kentucky Statutes 355.4-104
• all income from all sources: shall include all federal and state death benefits payable to the estate or any beneficiaries. See Kentucky Statutes 141.900
• 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.
• Angling: means the taking or attempting to take fish by hook and line in hand, rod in hand, jugging, setline, or sport fishing trotline. See Kentucky Statutes 150.010
• Animal: includes every warm-blooded living creature except a human being. See Kentucky Statutes 446.010
• 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.
• any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
• 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.
• Appraisal: 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
• Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
• 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: means attorney-at-law. See Kentucky Statutes 446.010
• Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
• 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.
• Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Kentucky Statutes 355.7-102
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Kentucky Statutes 355.4-104
• Bankruptcy: 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.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Below-drainage: means coal in a coal bed that does not outcrop at the surface within a mine permit area and that is accessed by mine slopes or other openings that penetrate the coal a minimum of thirty (30) feet below the surface drainage level. See Kentucky Statutes 143.010
• 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.
• Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
• Bonds: means bonds, notes, commercial paper, and other instruments in writing, authorized by or issued pursuant to or in accordance with this chapter, to evidence an obligation to repay or guarantee the repayment of money borrowed, or to pay interest by, or to pay at any future time other money obligations. See Kentucky Statutes 66.011
• branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
• Business trust: includes , except when utilized in KRS Chapter 386, a "statutory trust" as organized under KRS Chapter 386A. See Kentucky Statutes 446.010
• Buy: includes offering to buy, acquiring, or possessing through purchase, barter, exchange, or trade. See Kentucky Statutes 150.010
• Buyer: means a person who buys or contracts to buy goods. See Kentucky Statutes 355.2-103
• Cabinet: means the Cabinet for Economic Development as established under KRS
  12. See Kentucky Statutes 154.1-010
• Capitalized interest: means all or a portion of the interest payable on bonds from their date to a date stated or provided for in the proceedings, which interest is to be paid from the proceeds of the bonds. See Kentucky Statutes 66.011
• Captive real estate investment trust: means a real estate investment trust as defined in Section 856 of the Internal Revenue Code that meets the following requirements:
  (a) 1. See Kentucky Statutes 141.010
• Carrier: means a person that issues a bill of lading. See Kentucky Statutes 355.7-102
• Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
  (a) Sending the document or package. See Kentucky Statutes 446.010
• Cervid: means a hoofed mammal from the family Cervidae, including but not limited to white-tailed deer, mule deer, elk, moose, and caribou. See Kentucky Statutes 150.010
• 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.
• City: includes town. See Kentucky Statutes 446.010
• Clearing house: means an association of banks or other payors regularly clearing items. See Kentucky Statutes 355.4-104
• Coal: means and includes any material composed predominantly of hydrocarbons in a solid state. See Kentucky Statutes 143.010
• Commercial unit: means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. See Kentucky Statutes 355.2A-103
• Commission: means the State Property and Buildings Commission. See Kentucky Statutes 148.001
• Commission: means the Department of Fish and Wildlife Resources Commission. See Kentucky Statutes 150.010
• Commissioner: means the commissioner of the department. See Kentucky Statutes 141.010
• Commissioner: means the commissioner of parks. See Kentucky Statutes 148.001
• Commissioner: means the commissioner of the Department of Fish and Wildlife
  Resources. See Kentucky Statutes 150.010
• Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process.
• Committee substitute: Short for committee amendment in the nature of a substitute.
• 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.
• Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
• Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Conservation officer: means any member of the Kentucky Department of Fish and Wildlife Resources Law Enforcement Division, pursuant to KRS §. See Kentucky Statutes 150.010
• Consignee: means a person named in a bill of lading to which or to whose order the bill promises delivery. See Kentucky Statutes 355.7-102
• Consignor: means a person named in a bill of lading as the person from which the goods have been received for shipment. See Kentucky Statutes 355.7-102
• Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose. See Kentucky Statutes 355.2A-103
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Kentucky Statutes 355.2-106
• 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.
• Corporation: means a corporation taxable under KRS §. See Kentucky Statutes 141.010
• Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
• corporations: means :
  1. See Kentucky Statutes 141.900
• Counterclaim: A claim that a defendant makes against a plaintiff.
• County: means any county, consolidated local government, urban-county government, unified local government, or charter county. See Kentucky Statutes 65A.010
• Credit enhancement facilities: means letters of credit. See Kentucky Statutes 66.011
• Critical infrastructure: means property and equipment owned or used by communications networks, electric generation, transmission or distribution systems, gas distribution systems, or water or wastewater pipelines that service multiple customers or citizens, including but not limited to real and personal property such
  as buildings, offices, lines, poles, pipes, structures, or equipment. See Kentucky Statutes 141.010
• Customer: means a person having an account with a bank or for whom a bank has agreed to collect items including a bank that maintains an account at another bank. See Kentucky Statutes 355.4-104
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Debt charges: means the principal, including any mandatory sinking fund deposits, interest, and any redemption premium, payable on bonds as the payments come due and are payable and any charges related to credit enhancement facilities. See Kentucky Statutes 66.011
• Decedent: A deceased person.
• Declared state disaster or emergency: means a disaster or emergency event for which:
  (a) The Governor has declared a state of emergency pursuant to KRS §. See Kentucky Statutes 141.010
• 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.
• Department: means the Department of Revenue. See Kentucky Statutes 141.010
• Department: means the Department of Revenue. See Kentucky Statutes 143.010
• Department: means the Department of Revenue. See Kentucky Statutes 143A.010
• Department: means the Department of Parks. See Kentucky Statutes 148.001
• Department: means the Department of Fish and Wildlife Resources. See Kentucky Statutes 150.010
• Dependent: A person dependent for support upon another.
• Dependent: means those persons defined as dependents in the Internal Revenue
  Code. See Kentucky Statutes 141.010
• 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.
• Device: means any article, instrument, or equipment of whatever nature or kind which may be used to take wild animals, wild birds, or fishes. See Kentucky Statutes 150.010
• Devise: To gift property by will.
• Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
• Disaster or emergency-related work: means repairing, renovating, installing, building, or rendering services that are essential to the restoration of critical infrastructure that has been damaged, impaired, or destroyed by a declared state disaster or emergency. See Kentucky Statutes 141.010
• Disaster response business: means any entity:
  (a) That has no presence in the state and conducts no business in the state, except for disaster or emergency-related work during a disaster response period. See Kentucky Statutes 141.010
• Disaster response employee: means an employee who does not work or reside in the state, except for disaster or emergency-related work during the disaster response period. See Kentucky Statutes 141.010
• Disaster response period: means a period that begins ten (10) days prior to the first day of the Governor's declaration under KRS §. See Kentucky Statutes 141.010
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Discretionary spending: Spending (budget authority and outlays)controlled in annual appropriations acts.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distributions: includes but is not limited to any lump-sum distribution from pension or profit-sharing plans qualifying for the income tax averaging provisions of Section 402 of the Internal Revenue Code. See Kentucky Statutes 141.900
• Docket: A log containing brief entries of court proceedings.
• Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (KRS §. See Kentucky Statutes 355.4-104
• Doing business in this state: includes but is not limited to: (a) Being organized under the laws of this state. See Kentucky Statutes 141.010
• Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
• Donee: The recipient of a gift.
• Donor: The person who makes a gift.
• Draft: means a draft as defined in KRS §. See Kentucky Statutes 355.4-104
• Drawee: means a person ordered in a draft to make payment. See Kentucky Statutes 355.4-104
• 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}
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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.
• Establishing entity: means the city or county, or any combination of cities and counties, that established a special purpose governmental entity and that has not subsequently withdrawn its affiliation with the special purpose governmental entity by ordinance or other official action. See Kentucky Statutes 65A.010
• 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.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• 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.
• Fault: means wrongful act, omission, breach, or default. See Kentucky Statutes 355.2A-103
• Federal: refers to the United States. See Kentucky Statutes 446.010
• 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}
• 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}
• Federally regulated municipal utility: means a municipal utility governed by the provisions of KRS §. See Kentucky Statutes 65A.010
• Fee: means any user charge, levy, assessment, fee, schedule of rates, or tax, other than an ad valorem tax, imposed by a special purpose governmental entity. See Kentucky Statutes 65A.010
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Finance lease: means a lease with respect to which:
  1. See Kentucky Statutes 355.2A-103
• Financial institution: means :
  (a) A national bank organized as a body corporate and existing or in the process of organizing as a national bank association pursuant to the provisions of the National Bank Act, 12 U. See Kentucky Statutes 141.010
• Financing costs: means all costs and expenses relating to the issuance and carrying costs of bonds including charges related to credit enhancement facilities which are not debt charges. See Kentucky Statutes 66.011
• 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.
• Fiscal year: means "fiscal year" as defined in Section 7701(a)(24) of the Internal
  Revenue Code. See Kentucky Statutes 141.900
• Fishing: means to take or attempt to take in any manner, whether the fisherman has fish in possession or not. See Kentucky Statutes 150.010
• Floating indebtedness: means the amount by which the total of all expenditures by an issuer in any fiscal year exceeds the total of all funds and receipts of the issuer for that fiscal year which are available to the issuer for the purpose of funding those expenditures, but only to the extent that the governing body of the issuer made good-faith estimates of expenditures and funds and receipts available to fund those expenditures and the short-fall in available funds and receipts was due to unforeseeable circumstances or events. See Kentucky Statutes 66.011
• 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}
• Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
• 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
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gigging: means the taking of fish by spearing or impaling on any pronged or barbed instrument attached to the end of any rigid object. See Kentucky Statutes 150.010
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (KRS §. See Kentucky Statutes 355.2A-103
• Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Kentucky Statutes 355.7-102
• Governing body: means the legislative authority of the issuer. See Kentucky Statutes 66.011
• Grabbing: means the taking of fish, frogs, or turtles directly by hand or with the aid of a handled hook. See Kentucky Statutes 150.010
• 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.
• 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.
• Hunting: means to take or attempt to take in any manner, whether the hunter has game in possession or not. See Kentucky Statutes 150.010
• 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.
• Impounded waters: means any public waters backed up behind a dam and includes all water upstream from the dam to the first riffle or shoal. See Kentucky Statutes 150.010
• 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.
• Individual: means a natural person. See Kentucky Statutes 141.010
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Installment lease contract: means a lease contract that authorizes or requires the delivery of goods in separate lots to be separately accepted, even though the lease contract contains a clause "each delivery is a separate lease" or its equivalent. See Kentucky Statutes 355.2A-103
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• interest equivalent: means those payments or portions of payments, however denominated, that constitute or represent consideration for forbearing the collection of money, or for deferring the receipt or payment of money to a future time. See Kentucky Statutes 66.011
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Internal Revenue Code: means for taxable years beginning on or after January 1,
  2023, the Internal Revenue Code in effect on December 31, 2022, exclusive of any amendments made subsequent to that date, other than amendments that extend provisions in effect on December 31, 2022, that would otherwise terminate. See Kentucky Statutes 141.010
• Issuer: means a county, city, urban-county, charter county, or other taxing district, and for purposes of making any determinations required under this chapter, may include an authorized representative of the issuer. See Kentucky Statutes 66.011
• Issuer: means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. See Kentucky Statutes 355.7-102
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Kentucky Statutes 355.4-104
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jugging: means a means of fishing by which a single baited line is attached to any floating object. See Kentucky Statutes 150.010
• 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.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• 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}
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Kentucky Statutes 355.2A-103
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. See Kentucky Statutes 355.2A-103
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this article and any other applicable rules of law. See Kentucky Statutes 355.2A-103
• Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Kentucky Statutes 355.2A-103
• Legacy: A gift of property made by will.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legislation: means an ordinance or resolution passed by a governing body. See Kentucky Statutes 66.011
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See Kentucky Statutes 355.2A-103
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means any document issued by the department authorizing its holder to perform acts authorized by the license and includes any other form of authorization
  in addition to or in lieu of an actual document which may be authorized by the department by administrative regulation. See Kentucky Statutes 150.010
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See Kentucky Statutes 355.2A-103
• Light geese: means snow geese and Ross's geese. See Kentucky Statutes 150.010
• Light geese conservation order: means a wildlife management action needed to control populations of light geese for a period of time established pursuant to 50
  C. See Kentucky Statutes 150.010
• Limited liability pass-through entity: means any pass-through entity that affords any of its partners, members, shareholders, or owners, through function of the laws of this state or laws recognized by this state, protection from general liability for actions of the entity. See Kentucky Statutes 141.010
• Lineal descendant: Direct descendant of the same ancestors.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, and any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 148.001
• Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, and any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 150.010
• Livestock: means cattle, sheep, swine, goats, horses, alpacas, llamas, buffaloes, or any other animals of the bovine, ovine, porcine, caprine, equine, or camelid species. See Kentucky Statutes 446.010
• Lot: means a parcel or a single article that is the subject matter of a separate lease or delivery, whether or not it is sufficient to perform the lease contract. See Kentucky Statutes 355.2A-103
• Mandatory sinking fund redemption requirements: means amounts required by proceedings to be deposited in a sinking fund for the purpose of paying, by mandatory redemption prior to stated maturity, the principal of bonds that is due and payable in a subsequent year or fiscal year. See Kentucky Statutes 66.011
• Merchant lessee: means a lessee that is a merchant with respect to goods of the kind subject to the lease. See Kentucky Statutes 355.2A-103
• Migratory shore or upland game birds: means all species of migratory game birds except waterfowl. See Kentucky Statutes 150.010
• Minnows: means all fish under six (6) inches in length, except basses, either largemouth, smallmouth or Kentucky. See Kentucky Statutes 150.010
• Modified gross income: means the greater of:
  (a) Adjusted gross income as defined in 26 U. See Kentucky Statutes 141.010
• Month: means calendar month. See Kentucky Statutes 446.010
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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.
• 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}
• Natural resource: means all forms of minerals including but not limited to rock, stone, limestone, shale, gravel, sand, clay, natural gas, and natural gas liquids which are contained in or on the soils or waters of this state. See Kentucky Statutes 143A.010
• Net indebtedness: means the principal amount of outstanding bonds of an issuer as determined in accordance with KRS §. See Kentucky Statutes 66.011
• Nonresident: means any individual not a resident of this state. See Kentucky Statutes 141.010
• Nonresident: means a person who has not established a permanent domicile in this state and has not resided in this state for thirty (30) days immediately prior to his or her application for a license. See Kentucky Statutes 150.010
• Notes: means bonds that mature no later than five (5) years from the date they are issued. See Kentucky Statutes 66.011
• Number of withholding exemptions claimed: means the number of withholding exemptions claimed in a withholding exemption certificate in effect under KRS
  141. See Kentucky Statutes 141.010
• 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.
• Obligation: means instruments in writing, which are not bonds within the meaning of this chapter, that evidence an obligation to repay money borrowed, or to pay interest by, or to pay at any future time other money obligations, including, without limitation, installment sale, lease, lease purchase, or similar agreements, which obligations bear interest or an interest equivalent. See Kentucky Statutes 66.011
• Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
• Oversight: Committee review of the activities of a Federal agency or program.
• Owned or constructively owned: means owning shares or having an ownership interest in the real estate investment trust, or owning an interest in an entity that owns shares or has an ownership interest in the real estate investment trust. See Kentucky Statutes 141.010
• Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
• 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.
• Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
• Pass-through entity: means any partnership, S corporation, limited liability company, limited liability partnership, limited partnership, or similar entity recognized by the laws of this state that is not taxed for federal purposes at the entity level, but instead passes to each partner, member, shareholder, or owner their proportionate share of income, deductions, gains, losses, credits, and any other similar attributes. See Kentucky Statutes 141.010
• Permit: means any document issued by the department authorizing its holder to perform acts authorized by the permit and includes tags or devices as evidence of holding a permit and includes any other form of authorization in addition to or in lieu of an actual document authorized by the department by administrative regulation. See Kentucky Statutes 150.010
• Person: means "person" as defined in Section 7701(a)(1) of the Internal Revenue
  Code. See Kentucky Statutes 141.900
• Person: means an individual, partnership, joint venture, military facility operated by a department or agency of the United States, profit or nonprofit corporation including a public or private college or university, limited liability company, or other entity or association of persons organized for agricultural, commercial, health care, or industrial purposes. See Kentucky Statutes 154.1-010
• Personal property: All property that is not real property.
• 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.
• Possess: means the act of having or taking into control. See Kentucky Statutes 150.010
• 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.
• Prescribed by the department: means established by an administrative regulation. See Kentucky Statutes 150.010
• present sale: means a sale which is accomplished by the making of the contract. See Kentucky Statutes 355.2-106
• Present value: means the amount as of a date certain of one (1) or more sums payable in the future, discounted to the date certain. See Kentucky Statutes 355.2A-103
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Prisoner of war: means any regularly appointed, enrolled, enlisted, or inducted member of the military forces of the United States who was captured, separated, and incarcerated by an enemy of the United States. See Kentucky Statutes 148.001
• 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.
• Processed wildlife: means any wildlife specimen or parts thereof that have been
  rendered into a permanently preserved state. See Kentucky Statutes 150.010
• Processing: includes cleaning, breaking, sizing, dust allaying, treating to prevent freezing, or loading or unloading for any purpose. See Kentucky Statutes 143.010
• Processing: includes but is not limited to breaking, crushing, cleaning, drying, sizing, or loading or unloading for any purpose. See Kentucky Statutes 143A.010
• Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Protected wildlife: means all wildlife except those species declared unprotected by administrative regulations promulgated by the department. See Kentucky Statutes 150.010
• Public funds: means any funds derived from the levy of a tax, fee, assessment, or charge, or the issuance of bonds by the state or a city, county, or special purpose governmental entity. See Kentucky Statutes 65A.010
• public funds: means sums actually received in cash or negotiable instruments from all sources unless otherwise described by any state agency, state- owned corporation, university, department, cabinet, fiduciary for the benefit of any form of state organization, authority, board, bureau, interstate compact, commission, committee, conference, council, office, or any other form of organization whether or not the money has ever been paid into the Treasury and whether or not the money is still in the Treasury if the money is controlled by any form of state organization, except for those funds the management of which is to be reported to the Legislative Research Commission pursuant to KRS §. See Kentucky Statutes 446.010
• 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 roadway: includes rural roads, highways, bridges, bridge approaches, city streets, viaducts, and bridges which are normally traveled by the general public and are under the jurisdiction of a state, federal, county, or municipal agency. See Kentucky Statutes 150.010
• publicly traded partnership affiliates: shall include any limited liability company or limited partnership for which at least eighty percent (80%) of the limited liability company member interests or limited partner interests are owned directly or indirectly by the publicly traded partnership. See Kentucky Statutes 141.900
• Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See Kentucky Statutes 355.2A-103
• Quorum: The number of legislators that must be present to do business.
• Raw fur: means a hide, fur, or pelt of a fur-bearing animal which has not been processed. See Kentucky Statutes 150.010
• real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Refund: means to provide for the payment of debt charges and expenses related to that payment at or prior to retirement by purchase, call for redemption, payment at maturity, or otherwise, outstanding obligations of an issuer or its instrumentality, including, without limitation, bonds. See Kentucky Statutes 66.011
• Register: means the books kept and maintained for registration, exchange, and transfer of registered bonds. See Kentucky Statutes 66.011
• Registered business: means a business entity that owns or otherwise possesses critical infrastructure and that is registered to do business in the state prior to the declared state disaster or emergency. See Kentucky Statutes 141.010
• Registered mail: means any governmental, commercial, or electronic method of delivery that allows a document or package to have:
  (a) Its chain of custody recorded in a register to enable its location to be tracked. See Kentucky Statutes 446.010
• Registered taxpayer: means a taxpayer who holds a valid coal tax certificate of registration required under KRS §. See Kentucky Statutes 143.010
• Regular election: means the election in even-numbered years at which members of Congress are elected and the election in odd-numbered years at which state officers are elected. See Kentucky Statutes 446.010
• Related party: means two (2) or more persons, organizations, or businesses owned or controlled directly or indirectly by the same interest. See Kentucky Statutes 143.010
• 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.
• Reporting period: means the period for which each taxpayer shall compute his tax liability and remit the tax due to the department. See Kentucky Statutes 143.010
• Rescission: 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.
• Resident: means an individual domiciled within this state or an individual who is not domiciled in this state, but maintains a place of abode in this state and spends in the aggregate more than one hundred eighty-three (183) days of the taxable year in this state. See Kentucky Statutes 141.010
• Resident: means any person who has established permanent domicile and legal residence and has resided in this state for thirty (30) days immediately prior to his or her application for a license. See Kentucky Statutes 150.010
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Rough fish: means all species of fishes other than those species designated by administrative regulation as sport fishes. See Kentucky Statutes 150.010
• S corporation: means "S corporation" as defined in Section 1361(a) of the Internal
  Revenue Code. See Kentucky Statutes 141.900
• Sanctuary: means a place of refuge where wildlife is maintained and protected from depredation and destruction. See Kentucky Statutes 148.001
• Self-supporting obligations: means obligations issued for the purpose of paying costs of public projects to the extent that receipts of the issuer, other than the proceeds of taxes levied by that issuer, derived from or with respect to that public project or the operation of the public project being financed, or the enterprise, system, or category of public project of which the public project being financed is part, are estimated by the governing body or a representative of the governing body to be sufficient to pay the current expenses of that operation or of that public project, enterprise, or system and the debt charges payable from those receipts on obligations issued for that public project. See Kentucky Statutes 66.011
• Sell: includes offering to sell, having or possessing for sale, barter, exchange, or trade. See Kentucky Statutes 150.010
• Seller: means a person who sells or contracts to sell goods. See Kentucky Statutes 355.2-103
• Service of process: The service of writs or summonses to the appropriate party.
• Setline: means a line to which is attached one (1) single or multibarbed hook. See Kentucky Statutes 150.010
• 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.
• severance: means the physical removal of coal from the earth. See Kentucky Statutes 143.010
• severed: means the physical removal of the natural resource from the earth or waters of this state by any means. See Kentucky Statutes 143A.010
• Shipper: means a person that enters into a contract of transportation with a carrier. See Kentucky Statutes 355.7-102
• Sinking fund: means a fund established for the management of moneys to be used for the retirement of outstanding bonds. See Kentucky Statutes 66.011
• Snagging: means the taking of fish or other aquatic animals through the use of a hand-held pole and attached line with single or multiple fish hooks in which the fish is hooked by a rapid drawing motion rather than enticement by bait. See Kentucky Statutes 150.010
• Special purpose governmental entity: shall include entities meeting the requirements established by paragraph (a) of this subsection, whether the entity is formed as a nonprofit corporation under KRS Chapter 273, pursuant to an interlocal cooperation agreement under KRS §. See Kentucky Statutes 65A.010
• State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
• State local debt officer: as used in this chapter and other provisions of law, means the commissioner, Department for Local Government or the commissioner's agent designated in writing. See Kentucky Statutes 66.011
• 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.
• Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Kentucky Statutes 355.2A-103
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Kentucky Statutes 355.2A-103
• Supply contract: means a contract under which a lessor buys or leases goods to be leased. See Kentucky Statutes 355.2A-103
• Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
• Take: includes pursue, shoot, hunt, wound, catch, kill, trap, snare, or capture wildlife in any way and any lesser act designed to lure, attract, or entice for these purposes. See Kentucky Statutes 150.010
• Taxable year: means the calendar year or fiscal year ending during such calendar year, upon the basis of which net income is computed, and in the case of a return made for a fractional part of a year under the provisions of this chapter or under administrative regulations prescribed by the commissioner, "taxable year" means the period for which the return is made. See Kentucky Statutes 141.010
• Taxing district: means an issuer, other than a county, city, urban-county, or charter county authorized to levy ad valorem taxes within the meaning of Section 157 of the Constitution of Kentucky which is not a school district. See Kentucky Statutes 66.011
• Tenant: means any resident sharecropper, lessee, or any other person actually engaged in work upon a farm or lands and residing in a dwelling on the farms or lands including noncontiguous lands, but shall not include any other employee or tenant unless actually residing on the property and engaged or employed as above mentioned. See Kentucky Statutes 150.010
• 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.
• Ton: means a short ton of 2,000 pounds. See Kentucky Statutes 143.010
• 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.
• Transport: means to carry, move, or ship wildlife from one (1) place to another. See Kentucky Statutes 150.010
• Transportation expense: means :
  1. See Kentucky Statutes 143.010
• Treatment: when used in a criminal justice context, means targeted interventions
  that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• 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.
• 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}
• User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• Violate: includes failure to comply with. See Kentucky Statutes 446.010
• Wages: means "wages" as defined in Section 3401(a) of the Internal Revenue
  Code and includes other income subject to withholding as provided in Section
  3401(f) and Section 3402(k), (o), (p), (q), and (s) of the Internal Revenue Code. See Kentucky Statutes 141.900
• Warehouse: means a person engaged in the business of storing goods for hire. See Kentucky Statutes 355.7-102
• Waterfowl: means all species of wild ducks, geese, swans, mergansers, and coots. See Kentucky Statutes 150.010
• Wildlife: means all living things that are neither human nor domesticated, including but not limited to mammals, reptiles, amphibians, birds, fishes, crustaceans, mollusks, trees, shrubs, vines, wildflowers, and nonflowering plants. See Kentucky Statutes 148.001
• Wildlife: means any normally undomesticated animal, alive or dead, including without limitations any wild mammal, bird, fish, reptile, amphibian, or other terrestrial or aquatic life, whether or not possessed in controlled environment, bred, hatched, or born in captivity and including any part, product, egg, or offspring thereof, protected or unprotected by this chapter. See Kentucky Statutes 150.010
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Year: means calendar year. See Kentucky Statutes 446.010