Terms Used In Rhode Island General Laws > Chapter 7-11.2 - Senior Savings Protection Act

• Agent: means an individual, other than a broker-dealer, who represents a broker-dealer in effecting or attempting to effect purchases or sales of securities or represents an issuer in effecting or attempting to effect purchases or sales of the issuer's securities; provided, that a partner, officer, or director of a broker-dealer or issuer, or an individual having a similar status or performing similar functions, is an agent only if the individual otherwise comes within the term. See Rhode Island General Laws 7-11.2-2
• 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
• 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}
• Broker-dealer: means a person engaged in the business of effecting transactions in securities for the account of others or for the person's own account. See Rhode Island General Laws 7-11.2-2
• Financial exploitation: means the wrongful or unauthorized taking, withholding, appropriation, or use of money, real property, or personal property of a qualified adult. See Rhode Island General Laws 7-11.2-2
• 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.
• Immediate family member: means a spouse, child, parent, or sibling of a qualified adult. See Rhode Island General Laws 7-11.2-2
• in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Personal property: All property that is not real property.
• 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}
• Qualified adult: means :

  (i)  A person sixty (60) years of age or older; or

  (ii)  A person who:

  (A)  Has a mental or physical impairment that substantially limits one or more major life activities, whether the impairment is congenital or acquired by accident, injury, or disease, where the impairment is verified by medical findings; and

  (B)  Is between the ages of eighteen (18) and fifty-nine (59). See Rhode Island General Laws 7-11.2-2

• Qualified individual: means a person associated with a broker-dealer who serves in a supervisory, compliance, or legal capacity as part of his or her job. See Rhode Island General Laws 7-11.2-2
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Trustee: A person or institution holding and administering property in trust.