Terms Used In Nevada Revised Statutes > Chapter 354 - Local Financial Administration

• Adult: means a person who has attained the age of 18 years. See Nevada Revised Statutes 167.020
• 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.
• 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.
• Articles: means either the articles of incorporation of a professional corporation or the articles of organization of a professional limited-liability company. See Nevada Revised Statutes 89.020
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Balanced budget: A budget in which receipts equal outlays.
• 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.
• 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}
• Benefits: means all money payable by the United States through the Department of Veterans Affairs. See Nevada Revised Statutes 160.020
• Bequest: Property gifted by will.
• Broker: means a person lawfully engaged in the business of effecting transactions in securities or commodities for his or her own account or for the account of others. See Nevada Revised Statutes 167.020
• Commission: means the Nevada Indian Commission. See Nevada Revised Statutes 233A.001
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Conservator: means a person appointed or qualified by a court to act as general, limited or temporary guardian of a minor"s property or any other person legally authorized to perform substantially the same functions. See Nevada Revised Statutes 167.020
• Continuance: Putting off of a hearing ot trial until a later time.
• controlled substance: means a drug, immediate precursor or other substance which is listed in schedule I, II, III, IV or V for control by the State Board of Pharmacy pursuant to Nevada Revised Statutes 0.031
• Conviction: A judgement of guilt against a criminal defendant.
• Court: means the district court. See Nevada Revised Statutes 167.020
• Custodial property: means :

  (a) Any interest in property transferred to a custodian in a manner prescribed in this chapter; and

  (b) The income from and the proceeds of that interest in property. See Nevada Revised Statutes 167.020

• Custodian: means a person so designated in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department of Veterans Affairs: means the Department of Veterans Affairs, its predecessors or successors. See Nevada Revised Statutes 160.020
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• 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}
• Executor: A male person named in a will to carry out the decedent
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal 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}
• Fiduciary: A trustee, executor, or administrator.
• Financial institution: means a bank, trust company, savings institution or credit union chartered and supervised under federal law or the laws of a state. See Nevada Revised Statutes 167.020
• 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}
• Fraud: Intentional deception resulting in injury to another.
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: means any person acting as a fiduciary for a ward. See Nevada Revised Statutes 160.020
• 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.
• income: include only money received by the guardian from the Department of Veterans Affairs and all earnings, interest and profits derived therefrom. See Nevada Revised Statutes 160.020
• 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}
• Legal representative: means a personal representative or conservator. See Nevada Revised Statutes 167.020
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Minor: means a person who has not attained the age of 18 years. See Nevada Revised Statutes 167.020
• Museum: means the Stewart Indian School Cultural Center and Museum established pursuant to Nevada Revised Statutes 233A.001
• Oath: A promise to tell the truth.
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: means any natural person, corporation, organization or other legal entity. See Nevada Revised Statutes 167.020
• Personal representative: means an executor, administrator, successor personal representative or special administrator of a decedent"s estate or any other person legally authorized to perform substantially the same functions. See Nevada Revised Statutes 167.020
• 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}
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• 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.
• Professional association: means a common-law association of two or more persons licensed or otherwise legally authorized to render professional service within this State when created by written articles of association which contain in substance the following provisions characteristic of corporate entities:

  (a) The death, insanity, bankruptcy, retirement, resignation, expulsion or withdrawal of any member of the association does not cause its dissolution. See Nevada Revised Statutes 89.020

• State: means any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or possession subject to the legislative authority of the United States. See Nevada Revised Statutes 167.020
• Subpoena: A command to a witness to appear and give testimony.
• 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.
• 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.
• Transfer: means a transaction which creates custodial property in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Transferor: means a person who makes a transfer in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust company: means a financial institution, corporation or other legal entity authorized to exercise general trust powers. See Nevada Revised Statutes 167.020
• Ward: means a beneficiary of the Department of Veterans Affairs. See Nevada Revised Statutes 160.020
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.