Terms Used In North Carolina General Statutes > Chapter 58 > Article 86 - North Carolina Firefighters' and Rescue Squad Workers' Pension Fund

• 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.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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}
• Board: means the Board of Trustees of the Local Governmental Employees' Retirement System. See North Carolina General Statutes 58-86-2
• Chair: means the chair of the Board of Trustees of the Local Governmental Employees' Retirement System. See North Carolina General Statutes 58-86-2
• 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.
• Director: means the Director of the Retirement Systems Division of the North Carolina Department of State Treasurer. See North Carolina General Statutes 58-86-2
• Eligible fire department: means a bona fide fire department which is certified to the Commissioner of Insurance by the governing body thereof, and determined as classified as not less than class "9S" and said fire department holds training sessions not less than four hours monthly. See North Carolina General Statutes 58-86-2
• Eligible firefighter: means all persons 18 years of age or older who are firefighters of the State of North Carolina or any political subdivision thereof, including those performing such functions in the protection of life and property through firefighting within a county or city governmental unit. See North Carolina General Statutes 58-86-2
• Eligible rescue or emergency medical services squad: means organized rescue squad units eligible for membership in the North Carolina Association of Rescue and Emergency Medical Services, Inc. See North Carolina General Statutes 58-86-2
• Eligible rescue squad worker: means all persons 18 years of age or older who are members of a rescue or emergency medical services squad that is eligible for membership in the North Carolina Association of Rescue and Emergency Medical Services, Inc. See North Carolina General Statutes 58-86-2
• 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}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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
• Fully credited service: means a period of time for which the Board has received certification that a member has met all eligibility requirements for participation in the Pension Fund and for which the Board has received timely monthly payments under N. See North Carolina General Statutes 58-86-2
• Inactive member: means a member of the fund who is not on a leave of absence under N. See North Carolina General Statutes 58-86-2
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means an eligible firefighter or eligible rescue squad worker who has elected to participate in the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund. See North Carolina General Statutes 58-86-2
• month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
• Pension Fund: means the North Carolina Firefighters' and Rescue Squad Workers' Pension Fund. See North Carolina General Statutes 58-86-2
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• 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
• United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3