Terms Used In North Carolina General Statutes > Chapter 115D > Article 5 - Special Provisions

• Contract: A legal written agreement that becomes binding when signed.
• institution: refers to any institution established pursuant to this Chapter. See North Carolina General Statutes 115D-2
• 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}
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• State Board: refers to the State Board of Community Colleges. See North Carolina General Statutes 115D-2
• Trustee: A person or institution holding and administering property in trust.