Terms Used In Minnesota Statutes > Chapter 60G - Administrative Supervision

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

  (2) "Afternoon" means the period of a day between noon and midnight;

  (3) "Banking day" means that part of any day, excluding Saturday, Sunday, and holidays, on which a bank is open to the public for carrying on substantially all of its banking functions;

  (4) "Clearinghouse" means an association of banks or other payors regularly clearing items;

  (5) "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;

  (6) "Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (section 336. See Minnesota Statutes 336.4-104

• 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.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Applicable charge: means the amount of interest attributable to each monthly installment period of the loan contract. See Minnesota Statutes 56.001
• Board: means the Board of Water and Soil Resources. See Minnesota Statutes 103G.005
• 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

• 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.
• Commissioner: means the commissioner of commerce. See Minnesota Statutes 56.001
• Commissioner: means the commissioner of natural resources. See Minnesota Statutes 103G.005
• Data on individuals: means all government data in which any individual is or can be identified as the subject of that data, unless the appearance of the name or other identifying data can be clearly demonstrated to be only incidental to the data and the data are not accessed by the name or other identifying data of any individual. See Minnesota Statutes 13.02
• Government entity: means a state agency, statewide system, or political subdivision. See Minnesota Statutes 13.02
• individual: includes a parent or guardian or an individual acting as a parent or guardian in the absence of a parent or guardian, except that the responsible authority shall withhold data from parents or guardians, or individuals acting as parents or guardians in the absence of parents or guardians, upon request by the minor if the responsible authority determines that withholding the data would be in the best interest of the minor. See Minnesota Statutes 13.02
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Majority: means with respect to an individual the period of time after the individual reaches the age of 18. See Minnesota Statutes 645.451
• 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
• Municipality: means a home rule charter or statutory city. See Minnesota Statutes 103G.005
• Ordinary high-water level: means the boundary of water basins, watercourses, public waters, and public waters wetlands, and:

  (1) the ordinary high-water level is an elevation delineating the highest water level that has been maintained for a sufficient period of time to leave evidence upon the landscape, commonly the point where the natural vegetation changes from predominantly aquatic to predominantly terrestrial;

  (2) for watercourses, the ordinary high-water level is the elevation of the top of the bank of the channel; and

  (3) for reservoirs and flowages, the ordinary high-water level is the operating elevation of the normal summer pool. See Minnesota Statutes 103G.005

• 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: includes individuals, copartnerships, associations, and corporations. See Minnesota Statutes 56.001
• Person: means any individual, partnership, corporation, association, business trust, or a legal representative of an organization. See Minnesota Statutes 13.02
• Political subdivision: means a county, city, town, school district, or other local government jurisdiction to which the state provides state aids or on which the state imposes state mandates. See Minnesota Statutes 103G.005
• 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.
• Principal amount: means the amount of cash paid to, or paid or payable for, the account of the borrower. See Minnesota Statutes 56.001
• Public waters: means :

  (1) water basins assigned a shoreland management classification by the commissioner under sections 103F. See Minnesota Statutes 103G.005

• 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

• Summary data: means statistical records and reports derived from data on individuals but in which individuals are not identified and from which neither their identities nor any other characteristic that could uniquely identify an individual is ascertainable. See Minnesota Statutes 13.02
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Utility: means a sanitary sewer, storm sewer, potable water distribution, and transmission, distribution, or furnishing, at wholesale or retail, of natural or manufactured gas, electricity, telephone, or radio service or communications. See Minnesota Statutes 103G.005