Terms Used In South Carolina Code > Title 33 > Chapter 37 > Article 5 - Members and Stockholders; Loans to Corporation

• Administrator: means the individual to whom the director has delegated authority to administer the programs of a specific board or of a professional or occupational group for which the department has regulatory authority or has delegated authority to administer the programs of a specific board;
  
  (2) "Authorization to practice" or "Practice authorization" means the approval to practice the specified profession, engage in the specified occupation, or use a title protected under this article, which has been granted by the applicable board. See South Carolina Code 40-1-20
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• AICPA: means the American Institute of Certified Public Accountants or successor organizations. See South Carolina Code 40-2-20
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• 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
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Authorized health care provider: means advanced practice registered nurses and physician assistants licensed in South Carolina and authorized to provide specific treatments, care, or services pursuant to their respective practice acts in Title 40. See South Carolina Code 44-22-10
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• 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 South Carolina Board of Accountancy. See South Carolina Code 40-2-20
• Board of directors: means the board of directors of the corporation created pursuant to this chapter. See South Carolina Code 33-37-10
• Child: means a person under the age of eighteen years. See South Carolina Code 44-24-10
• Child in need of judicial admission: means a child who is in need of treatment and for whom treatment can be obtained only through an involuntary judicial admission. See South Carolina Code 44-24-10
• Child in need of treatment: means a child in need of mental health treatment who manifests a substantial disorder of cognitive or emotional processes, which lessens or impairs to a marked degree that child's capacity either to develop or to exercise age appropriate or age adequate behavior. See South Carolina Code 44-24-10
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Client: means a person who is determined by the South Carolina Department of Disabilities and Special Needs to have intellectual disability or a related disability and is receiving services or is an infant at risk of having intellectual disability or a related disability and is receiving services. See South Carolina Code 44-26-10
• Client: means a person or entity that agrees with a licensee or licensee's employer to receive any professional service. See South Carolina Code 40-2-20
• Client records: means those accounting records or other records provided by a client or removed from a client's premises, including hardcopy and electronic reproductions of records, that belong to the client and that were provided to a certified public accountant, public accountant, or accounting practitioner by, or on behalf of, the client. See South Carolina Code 40-2-20
• Commission: means the Interstate Advisory Health Care Commission. See South Carolina Code 44-10-30
• Compilation: means providing a service of any compilation engagement to be performed in accordance with SSARS. See South Carolina Code 40-2-20
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Corporation: means a South Carolina business development corporation created pursuant to this chapter. See South Carolina Code 33-37-10
• Court: means probate court. See South Carolina Code 44-22-10
• Court: means the probate court unless otherwise specified. See South Carolina Code 44-24-10
• Court: means a probate court of appropriate jurisdiction unless specified otherwise. See South Carolina Code 44-26-10
• CPA-prepared records: means accounting or other records that a licensee or firm was not specifically engaged to prepare and that are not in a client's books and records or are otherwise not available to the client, which render the client's financial or tax information incomplete. See South Carolina Code 40-2-20
• Crisis stabilization: means a short term placement to enable a child who has lost control to regain control in order to be returned to his previous placement or to an appropriate treatment facility or program. See South Carolina Code 44-24-10
• Current year inflation adjustment factor: means the total gross domestic product deflator in the current year divided by the total gross domestic product deflator in federal fiscal year 2010. See South Carolina Code 44-10-30
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Disabilities and Special Needs. See South Carolina Code 44-21-20
• Department: means the State Department of Mental Health. See South Carolina Code 44-22-10
• Department: means the State Department of Mental Health. See South Carolina Code 44-24-10
• Department: means the South Carolina Department of Disabilities and Special Needs. See South Carolina Code 44-26-10
• Department: means the Department of Labor, Licensing and Regulation;
  
  (5) "Director" means the Director of the Department of Labor, Licensing and Regulation or the director's official designee;
  
  (6) "Licensee" means a person granted an authorization to practice pursuant to this article and refers to a person holding a license, permit, certification, or registration granted pursuant to this article;
  
  (7) "Licensing act" means the individual statute or regulations, or both, of each regulated profession or occupation which include, but are not limited to, board governance, the qualifications and requirements for authorization to practice, prohibitions, and disciplinary procedures;
  
  (8) "Person" means an individual, partnership, or corporation;
  
  (9) "Profession" or "occupation" means a profession or occupation regulated or administered, or both, by the department pursuant to this article. See South Carolina Code 40-1-20
• Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-2-20
• Dependent: A person dependent for support upon another.
• Diagnostic evaluation: means the systematic appraisal of a child's functional level in various domains such as educational, social, and psychological to determine the nature and extent of treatment or services which may be required to meet the needs of the child. See South Carolina Code 44-24-10
• Direct: means the person supervised in the usual line of authority or is in a staff position reporting to the supervisor. See South Carolina Code 40-2-20
• Director: means the Director of the Department of Mental Health. See South Carolina Code 44-22-10
• Director: means the South Carolina Director of Disabilities and Special Needs. See South Carolina Code 44-26-10
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Effective date: means the date upon which this compact shall become effective for purposes of the operation of state and federal law in a member state, which shall be the later of:
  
  (a) the date upon which this compact shall be adopted under the laws of the member state; and
  
  (b) the date upon which this compact receives the consent of the United States Congress pursuant to Article I, Section 10 of the United States Constitution, after it is adopted by at least two member states. See South Carolina Code 44-10-30
• Electronic files: means data files in a format created by software commonly available to the general public such as Adobe Acrobat, Microsoft Excel or Word, and consumer accounting programs. See South Carolina Code 40-2-20
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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.
• Experience: means providing any type of service or advice involving the use of accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills whether gained through employment in government, industry, academia, or public practice. See South Carolina Code 40-2-20
• Facility: means a residential program operated by the department. See South Carolina Code 44-22-10
• Family support: means goods and services needed by individuals or families to care for themselves or their family members with intellectual disability or related disabilities or head injuries, spinal cord injuries, or similar disabilities and to enjoy a quality of life comparable to other community members. See South Carolina Code 44-21-20
• Family Support Program: means a coordinated system of family support services administered by the department directly or through contracts with private nonprofit or governmental agencies across the State, or both. See South Carolina Code 44-21-20
• Financial institution: means any banking corporation or trust company, building and loan association, insurance company or related corporation, partnership, foundation, federal or state agency, or other institution engaged primarily in lending or investing funds including, without limitation, the Small Business Administration, an agency of the United States Government. See South Carolina Code 33-37-10
• Firm: includes a person or persons practicing public accounting in the form of a proprietorship, partnership, limited liability partnership, limited liability company, or professional corporation or association. See South Carolina Code 40-2-20
• Firm ownership: means one hundred percent of the partners, members, managers, shareholders, and equity owners in a firm, which must be owners. See South Carolina Code 40-2-20
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Habilitation: means the attempt to remedy the delayed learning process to develop maximum growth potential by the acquisition of self-help, language, personal, social, educational, vocational, and recreational skills. See South Carolina Code 44-26-10
• Health care: means care, services, supplies, or plans related to the health of an individual and includes, but is not limited to:
  
  (a) preventive, diagnostic, therapeutic, rehabilitative, maintenance, or palliative care and counseling, service, assessment, or procedure with respect to the physical or mental condition or functional status of an individual or that affects the structure or function of the body; and
  
  (b) sale or dispensing of a drug, device, equipment, or other item pursuant to a prescription; and
  
  (c) an individual or group plan that provides, or pays the cost of care, services, or supplies related to the health of an individual, except any care, services, supplies, or plans provided by the United States Department of Defense and United States Department of Veteran Affairs, or provided to Native Americans. See South Carolina Code 44-10-30
• In-home intervention: means comprehensive, individualized in-home family services which are designed to intervene at times when there is a possibility that the child will have to be removed from the home to a more restrictive environment or to prepare a family for a child's transition back into the home. See South Carolina Code 44-24-10
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Intellectual disability: means significantly subaverage general intellectual functioning existing concurrently with deficits in adaptive behavior and manifested during the developmental period. See South Carolina Code 44-26-10
• 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.
• Law enforcement officer: means a state, county, or city police officer, officer of the South Carolina Highway Patrol, sheriff, or deputy sheriff. See South Carolina Code 44-24-10
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means authorization to practice as issued under this chapter. See South Carolina Code 40-2-20
• Licensee: means the holder of a license. See South Carolina Code 40-2-20
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Loan call: means the right of the corporation to call for loans by the members to the corporation as provided in § 33-37-460 of this chapter. See South Carolina Code 33-37-10
• Loan call agreement: means the loan agreement between the corporation and its members describing the terms, conditions, and loan limits of the corporation's right to make loan calls to its members. See South Carolina Code 33-37-10
• Loan limit: means , for a member, the maximum amount subject to loan call at any one time by the corporation to the member as provided in the loan call agreement. See South Carolina Code 33-37-10
• Major medical treatment: means a medical, surgical, or diagnostic intervention or procedure where a general anesthetic is used or which involves significant invasions of bodily integrity requiring an incision or producing substantial pain, discomfort, debilitation, or having a significant recovery period. See South Carolina Code 44-22-10
• Manager: means a licensee in responsible charge of an office. See South Carolina Code 40-2-20
• Mandatory spending: Spending (budget authority and outlays) controlled by laws other than annual appropriations acts.
• Member: means a financial institution authorized to do business in this State which undertakes to lend money to a corporation created pursuant to this chapter, upon its call and as provided by this chapter. See South Carolina Code 33-37-10
• Member state: means a state that is a signatory to this compact and has adopted it under the laws of that state. See South Carolina Code 44-10-30
• Member state base funding level: means a number equal to the total federal spending on health care in the member state during federal fiscal year 2010. See South Carolina Code 44-10-30
• Member state current year funding level: means the member state base funding level multiplied by the member state current year population adjustment factor multiplied by the current year inflation adjustment factor. See South Carolina Code 44-10-30
• Member state current year population adjustment factor: means the average population of the member state in the current year less the average population of the member state in federal fiscal year 2010, divided by the average population of the member state in federal fiscal year 2010, plus one. See South Carolina Code 44-10-30
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Multi-disciplinary team: means persons drawn from or representing the professional disciplines or service areas included in the treatment plan. See South Carolina Code 44-22-10
• NASBA: means the National Association of State Boards of Accountancy
  
  (20) "Non-CPA owner" means any owner in a firm who is not a currently licensed certified public accountant. See South Carolina Code 40-2-20
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Oath: A promise to tell the truth.
• 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.
• Outpatient counseling: means a regularly scheduled goal-oriented intervention by a competent professional responsive to the needs of the child, for the purposes of assisting the child in solving problems related to educational, vocational, emotional, familial, and social issues through cognitive and affective modes. See South Carolina Code 44-24-10
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means any person who owns all or part of a firm. See South Carolina Code 40-2-20
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Patient: means an individual undergoing treatment in the department; however, the term does not include a person committed to the department pursuant to Chapter 48 of Title 44. See South Carolina Code 44-22-10
• Patient unable to consent: means a patient unable to appreciate the nature and implications of his condition and proposed health care, to make a reasoned decision concerning the proposed health care, or to communicate that decision in an unambiguous manner. See South Carolina Code 44-22-10
• Peer review: means a study, appraisal, or review of one or more aspects of the professional work of a licensee of the board or a firm registered with the board that performs attest or compilation services by a person or persons who hold certificates and who are not affiliated with the certificate holder or certified public accountant firm being reviewed. See South Carolina Code 40-2-20
• Personal property: All property that is not real property.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• 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}
• Practice of accounting: means :
  
  (a) issuing a report on financial statements of a person, firm, organization, or governmental unit or offering to render or rendering any attest or compilation service. See South Carolina Code 40-2-20
• Preparation of financial statements: means any preparation of financial statements engagement to be performed in accordance with SSARS. See South Carolina Code 40-2-20
• Principal place of business: means the office location designated by a licensee for the purposes of substantial equivalency and reciprocity. See South Carolina Code 40-2-20
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Professional: means arising out of or related to the specialized knowledge or skills associated with licensees. See South Carolina Code 40-2-20
• Psychiatric assessment and evaluation: means a systematic appraisal, in accordance with generally accepted medical practices, for the following purposes: specialized psychiatric review of physiological phenomena, psychiatric diagnostic evaluation, psychiatric therapeutic evaluative services, and assessment of the appropriateness of initiating or continuing the use of psychotropic medications in treatment of a child. See South Carolina Code 44-24-10
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reasonably available: means that a person to be contacted may be contacted with diligent efforts by the attending physician or another person acting on behalf of the attending physician. See South Carolina Code 44-22-10
• Registration: means an authorization, issued under this chapter, to practice as a firm. See South Carolina Code 40-2-20
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Renewal lapse date: is a date fifteen days subsequent to the renewal date. See South Carolina Code 40-2-20
• report: includes any form of language which disclaims an opinion when the form of language is conventionally understood to imply positive assurance as to the reliability of the attested information or compiled financial statements referred to or special competency on the part of the person or firm issuing such language, or both; and it includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competency, or both. See South Carolina Code 40-2-20
• Resident manager: means a responsible party for a firm. See South Carolina Code 40-2-20
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, the Commonwealth of the Northern Mariana Islands, and Guam; except that "this State" means the State of South Carolina. See South Carolina Code 40-2-20
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• substantially equivalent: is a determination by the board or its designee that the education, examination, and experience requirements contained in the statutes and administrative rules of another jurisdiction are comparable to, or exceed the completion of, a baccalaureate or higher degree in an accounting concentration that includes one hundred fifty semester hours of education, at least one year of acceptable experience, and successful completion of the Uniform CPA Examination. See South Carolina Code 40-2-20
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Treatment: means the attempted correction or facilitation of a mental illness or alcohol and drug abuse. See South Carolina Code 44-22-10
• Treatment team: means persons drawn from or representing the professional disciplines or service areas included in the development and implementation of a treatment plan. See South Carolina Code 44-24-10
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• Twenty-four hour emergency assessment: means diagnostic evaluation capabilities when necessary to determine a child's clinical status and needs. See South Carolina Code 44-24-10
• Uniform CPA Examination: means the Uniform Certified Public Accountant Examination as prepared by the AICPA. See South Carolina Code 40-2-20
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.