Terms Used In North Carolina General Statutes > Chapter 106 > Article 35A - North Carolina Livestock Prompt Pay Law

• 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.
• Banking business day: means a day in which banks are normally open for business in North Carolina. See North Carolina General Statutes 106-418.3
• Commissioner: means the Commissioner of Agriculture of North Carolina or his designated agent or agents. See North Carolina General Statutes 106-418.3
• 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.
• Custodial accounts: means custodial accounts for trust funds as explained in the Code of Federal Regulations, January 1, 1972, § 201. See North Carolina General Statutes 106-418.3
• following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
• North Carolina Public Livestock Market Advisory Board: means the Board established under N. See North Carolina General Statutes 106-418.3
• 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.
• Public livestock market: means livestock sales at a market duly licensed under N. See North Carolina General Statutes 106-418.3
• state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3