Terms Used In North Carolina General Statutes > Chapter 66 > Article 16 - Unfair Trade Practices in Diamond Industry

• 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.
• diamond: is a natural mineral consisting essentially of pure carbon crystallized in the isometric system and is found in many colors. See North Carolina General Statutes 66-73
• industry: as used in this Article is a trade, industry or business which shall be construed to embrace all persons, firms, corporations and organizations engaged in selling, offering for sale, or the distribution in commerce of diamonds (other than industrial diamonds), whether cut, polished or in the rough, synthetic diamonds and imitation diamonds, and of any jewelry item or other products containing diamonds, synthetic diamonds or imitation diamonds. See North Carolina General Statutes 66-73
• 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