Terms Used In Minnesota Statutes > Chapter 11A - Investment of State and Pension Assets

• abode: means domicile;

  (2) "action" means any proceeding in any court of this state;

  (3) "adult" means an individual 18 years of age or over;

  (4) "as now provided by law" means a reference to the laws in force at the time the law containing the phrase was finally enacted;

  (5) "as provided by law" means a reference to the laws in force at the particular time the law containing the phrase is applied;

  (6) "attorney at law" means an individual admitted to practice law by a court of record of this state;

  (7) "attorney of record" means an attorney at law who is entered on the docket or record of a court as appearing for or representing a party in a legal proceeding;

  (8) "child" or "children" includes children by birth or adoption;

  (9) "day" comprises the time from midnight to the next midnight;

  (10) "fiscal year" means the year by or for which accounts are reckoned;

  (11) "hereafter" means a reference to the time after the time when the law containing such word takes effect;

  (12) "heretofore" means a reference to the time previous to the time when the law containing such word takes effect;

  (13) "judicial sale" means a sale conducted by an officer or person authorized for the purpose by some competent tribunal;

  (14) "minor" means an individual under the age of 18 years;

  (15) "money" means lawful money of the United States;

  (16) "night time" means the time from sunset to sunrise;

  (17) "non compos mentis" refers to an individual of unsound mind;

  (18) "notary" means a notary public;

  (19) "now" in any provision of a law referring to other laws in force, or to persons in office, or to any facts or circumstances as existing, relates to the laws in force, or to the persons in office, or to the facts or circumstances existing, respectively, on the effective date of such provision;

  (20) "verified" when used in reference to writings, means supported by oath or affirmation. See Minnesota Statutes 645.45

• Adult: means an individual 18 years of age or older. See Minnesota Statutes 645.451
• Advisory board: means the Iron Range Resources and Rehabilitation Board, as established under section 298. See Minnesota Statutes 298.001
• 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.
• Amortization: Paying off a loan by regular installments.
• 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.
• Appraisal: A determination of property value.
• 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.
• 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.
• 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.
• 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}
• bingo: means the game of bingo as defined in section 349. See Minnesota Statutes 297E.01
• City: includes any home rule charter city, statutory city, or any city however organized. See Minnesota Statutes 298.001
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commercial generator: means any of the following:

  (1) an owner or operator of a business, including a home-operated business, industry, church, nursing home, nonprofit organization, school, or any other commercial or institutional enterprise that generates mixed municipal solid waste or nonmixed municipal solid waste; or

  (2) any other generator of taxable waste that is not a residential generator defined in subdivision 8. See Minnesota Statutes 297H.01

• Commissioner: means the commissioner of revenue or a person to whom the commissioner has delegated functions. See Minnesota Statutes 297E.01
• Commissioner: means the commissioner of revenue of the state of Minnesota, except that when used in sections 298. See Minnesota Statutes 298.001
• 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.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuance: Putting off of a hearing ot trial until a later time.
• contraband: means all of the items listed in section 349. See Minnesota Statutes 297E.01
• 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.
• court administrator: means the court administrator of the court in which the action or proceeding is pending, and "court administrator's office" means that court administrator's office. See Minnesota Statutes 645.44
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Cubic yard: means a cubic yard of nonmixed municipal solid waste that is not compacted. See Minnesota Statutes 297H.01
• 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.
• Devise: To gift property by will.
• Direct reduced ore: means ore that results in a product that has an iron content of at least 75 percent. See Minnesota Statutes 298.001
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Distributor: means a distributor as defined in section 349. See Minnesota Statutes 297E.01
• Docket: A log containing brief entries of court proceedings.
• 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.
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Fire department: means a regularly organized fire department, fire protection district, or fire company regularly charged with the responsibility of providing fire protection to the state or a local government and includes a private nonprofit fire department directly serving a local government. See Minnesota Statutes 299N.01
• Firefighter: means a volunteer, paid on-call, part-time, or full-time firefighter serving a general population within the boundaries of the state. See Minnesota Statutes 299N.01
• Fiscal year: means the period from July 1 to June 30. See Minnesota Statutes 297E.01
• 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.
• Gambling product: means bingo hard cards, bingo paper sheets, linked bingo paper sheets, or electronic linked bingo games; pull-tabs; electronic pull-tab games; tipboards; paddle tickets and paddle ticket cards; raffle tickets; or any other ticket, card, board, placard, device, or token that represents a chance, for which consideration is paid, to win a prize. See Minnesota Statutes 297E.01
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Gross receipts: means all receipts derived from lawful gambling activity including, but not limited to, the following items:

  (1) gross sales of bingo hard cards, paper sheets, linked bingo paper sheets, and electronic linked bingo games before reduction for prizes, expenses, shortages, free plays, or any other charges or offsets;

  (2) the ideal gross of pull-tab, electronic pull-tab games, and tipboard deals or games less the value of unsold and defective tickets and before reduction for prizes, expenses, shortages, free plays, or any other charges or offsets;

  (3) gross sales of raffle tickets and paddle tickets before reduction for prizes, expenses, shortages, free plays, or any other charges or offsets;

  (4) admission, commission, cover, or other charges imposed on participants in lawful gambling activity as a condition for or cost of participation; and

  (5) interest, dividends, annuities, profit from transactions, or other income derived from the accumulation or use of gambling proceeds. See Minnesota Statutes 297E.01

• Holiday: includes New Year's Day, January 1; Martin Luther King's Birthday, the third Monday in January; Washington's and Lincoln's Birthday, the third Monday in February; Memorial Day, the last Monday in May; Juneteenth, June 19; Independence Day, July 4; Labor Day, the first Monday in September; Indigenous Peoples Day, the second Monday in October; Veterans Day, November 11; Thanksgiving Day, the fourth Thursday in November; and Christmas Day, December 25; provided, when New Year's Day, January 1; or Juneteenth, June 19; or Independence Day, July 4; or Veterans Day, November 11; or Christmas Day, December 25; falls on Sunday, the following day shall be a holiday and, provided, when New Year's Day, January 1; or Juneteenth, June 19; or Independence Day, July 4; or Veterans Day, November 11; or Christmas Day, December 25; falls on Saturday, the preceding day shall be a holiday. See Minnesota Statutes 645.44
• Ideal gross: means the total amount of receipts that would be received if every individual ticket in the pull-tab, electronic pull-tab games or tipboard deal, paddlewheel game, and raffle ticket was sold at its face value. See Minnesota Statutes 297E.01
• In forma pauperis: In the manner of a pauper. Permission given to a person to sue without payment of court fees on claim of indigence or poverty.
• 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.
• 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}
• Intestate: Dying without leaving a will.
• 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}
• Legacy: A gift of property made by will.
• 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.
• Linked bingo game: means a bingo game played at two or more locations where licensed organizations are authorized to conduct bingo, when there is a common prize pool and a common selection of numbers or symbols conducted at one location, and when the results of the selection are transmitted to all participating locations by satellite, telephone, or other means by a linked bingo game provider. See Minnesota Statutes 297E.01
• Linked bingo game provider: means any person who provides the means to link bingo prizes in a linked bingo game, who provides linked bingo paper sheets to the participating organizations, who provides linked bingo prize management, and who provides the linked bingo game system. See Minnesota Statutes 297E.01
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Majority leader: see Floor Leaders
• Manufacturer: means a manufacturer as defined in section 349. See Minnesota Statutes 297E.01
• Market price: means the lowest price available in the area, assuming transactions between separate parties that are willing buyers and willing sellers in a market. See Minnesota Statutes 297H.01
• Minor: means an individual under the age of 18. See Minnesota Statutes 645.451
• Minority: means with respect to an individual the period of time during which the individual is a minor. See Minnesota Statutes 645.451
• Minority leader: See Floor Leaders
• Mixed municipal solid waste: means mixed municipal solid waste as defined in section 115A. See Minnesota Statutes 297H.01
• Month: means a calendar month and "year" means a calendar year, unless otherwise expressed; and "year" is equivalent to the expression "year of our Lord. See Minnesota Statutes 645.44
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Nonmixed municipal solid waste: means :

  (1) infectious waste as defined in section 116. See Minnesota Statutes 297H.01

• Oath: A promise to tell the truth.
• Oath: includes "affirmation" in all cases where by law an affirmation may be substituted for an oath; and in like cases "swear" includes "affirm" and "sworn" "affirmed. See Minnesota Statutes 645.44
• Oversight: Committee review of the activities of a Federal agency or program.
• Periodic waste collection: means each time a waste container is emptied by the person that collects the nonmixed municipal solid waste at the point that the waste has been aggregated for collection by the generator. See Minnesota Statutes 297H.01
• Person: means individuals, fiduciaries, estates, trusts, partnerships, companies, joint stock companies, corporations, and all associations. See Minnesota Statutes 298.001
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• 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.
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• Prize: means a thing of value, other than a free play, offered or awarded to the winner of a gambling game. See Minnesota Statutes 297E.01
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Pull-tab: is a pull-tab as defined in section 349. See Minnesota Statutes 297E.01
• Raffle: means a raffle as defined in section 349. See Minnesota Statutes 297E.01
• 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}
• Refining: means and is limited to refining:

  (1) of ores, metals, or mineral products, the mining, extraction, or quarrying of which were subject to tax under section 298. See Minnesota Statutes 298.001

• 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).
• Residential generator: means any of the following:

  (1) a detached single family residence that generates mixed municipal solid waste or nonmixed municipal solid waste;

  (2) a person residing in a building or site containing multiple residences that generates mixed municipal solid waste, including apartment buildings, common interest communities, or manufactured home parks, where each residence is separately billed by the waste service provider;

  (3) an owner of a building or site containing multiple residences or an association representing residences that generate mixed municipal solid waste or nonmixed municipal solid waste, including apartment buildings, condominiums, manufactured home parks, or townhomes where no residence is separately billed for such service by the waste management service provider and the owner or association is billed directly for the waste management services. See Minnesota Statutes 297H.01

• Retail level: means an activity where gambling product is sold to players or participants in gambling games and where the players or participants give consideration for a chance to win a prize. See Minnesota Statutes 297E.01
• Sales price: means total consideration valued in money for waste management services, excluding separately stated charges for exemptions listed under section 297H. See Minnesota Statutes 297H.01
• Self-hauler: means a person who transports mixed municipal solid waste or nonmixed municipal solid waste generated by that person or another person without compensation. See Minnesota Statutes 297H.01
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Small business: means a business entity organized for profit, including but not limited to any individual, partnership, corporation, joint venture, association or cooperative, which entity:

  (1) is not an affiliate or subsidiary of a business dominant in its field of operation; and

  (2) has 20 or fewer full-time employees; or

  (3) in the preceding fiscal year has not had more than the equivalent of $1,000,000 in annual gross revenues; or

  (4) if the business is a technical or professional service, shall not have had more than the equivalent of $2,500,000 in annual gross revenues in the preceding fiscal year. See Minnesota Statutes 645.445

• 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.
• Taconite: means ferruginous chert or ferruginous slate in the form of compact, siliceous rock, in which the iron oxide is so finely disseminated that substantially all of the iron-bearing particles of merchantable grade are smaller than 20 mesh and which is not merchantable as iron ore in its natural state, and which cannot be made merchantable by simple methods of beneficiation involving only crushing, screening, washing, jigging, drying, or any combination thereof. See Minnesota Statutes 298.001
• Taxpayer: means a person subject to or liable for a tax imposed by this chapter, a person required to file reports or returns with the commissioner under this chapter, a person required to keep or retain records under this chapter, or a person required by this chapter to obtain or hold a permit. See Minnesota Statutes 297E.01
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• 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.
• Ticket: means a valid token, card, or other tangible voucher, other than bingo cards, sheets, or paper, that grants the holder a chance or chances to participate in a game of gambling. See Minnesota Statutes 297E.01
• Tipboard: means a tipboard as defined in section 349. See Minnesota Statutes 297E.01
• Tipboards: includes any game otherwise described in this subdivision in which the winning chances are determined in whole or in part by the outcome of one or more sporting events. See Minnesota Statutes 297E.01
• 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.
• 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}
• 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.
• verified: when used in reference to writings, means supported by oath or affirmation. See Minnesota Statutes 645.45
• Violate: includes failure to comply with. See Minnesota Statutes 645.44
• Waste management service provider: means the person who directly bills the generator or self-hauler for waste management services, and includes, but is not limited to, waste haulers, waste management facilities, utility services, and political subdivisions, to the extent they directly bill for waste management services. See Minnesota Statutes 297H.01
• Waste management services: means waste collection, transportation, processing, and disposal. See Minnesota Statutes 297H.01
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.