South Carolina Code > Title 3 > Chapter 3 – Specific Grants or Cessions of Jurisdiction to United States


§ 3-3-10	Places ceded to the United States remain subject to concurrent jurisdiction
§ 3-3-20	Certain beacon or lighthouse sites
§ 3-3-30	Other beacon or lighthouse sites
§ 3-3-40	Sites in cities of Chester, Anderson, and Greenwood
§ 3-3-50	Sites in cities of Columbia, Spartanburg, Rock Hill, and Georgetown
§ 3-3-60	One acre on Otter Island in Colleton County; one acre on Station Creek in Beaufort County; one acre on Bob’s Island in Beaufort County
§ 3-3-70	Lot in City of Aiken
§ 3-3-80	Marshland in Beaufort County for inland navigation
§ 3-3-90	Other marshland in Beaufort County for inland navigation
§ 3-3-100	Lands in Beaufort County for naval and military purposes
§ 3-3-110	Other lands in Beaufort County for military purposes
§ 3-3-120	Five acres in Charleston for a customhouse
§ 3-3-130	One hundred feet on Haddrell’s Point in Charleston County for erection of beacon
§ 3-3-140	Fort Mechanic in Charleston County for maintenance of military post
§ 3-3-150	“Charleston Club House,” on Meeting Street in Charleston for courthouse or other purpose
§ 3-3-160	Fifty feet on South Battery in Charleston for beacon or harbor light
§ 3-3-170	Lands in Charleston County for naval purposes
§ 3-3-180	Lands in Charleston County for inland waterway
§ 3-3-190	Lighthouse on Middle Bay Island in Charleston Harbor
§ 3-3-200	Land for Charleston jetties
§ 3-3-210	Lands in Charleston County for migratory bird refuge
§ 3-3-220	Marshlands adjacent to Castle or Fort Pinckney ceded for sanatorium
§ 3-3-230	Fortification sites on Sullivan’s Island, James Island and Shutes Folly Island in Charleston County
§ 3-3-240	Lands on Sullivan’s Island for Fort Moultrie
§ 3-3-250	Land in Berkeley County
§ 3-3-260	The National Cemetery in Florence County
§ 3-3-270	Lot in Florence for erecting public buildings
§ 3-3-280	Seven acres of land on North Island in Georgetown County
§ 3-3-290	Lot on South Island in Georgetown County for lighthouse
§ 3-3-300	Lands in City of Georgetown
§ 3-3-310	Land for Georgetown jetties
§ 3-3-320	Shaw Air Force Base in Sumter County
§ 3-3-330	Lot in City of Sumter for public building
§ 3-3-340	Other lands ceded
§ 3-3-350	Concurrent jurisdiction; National Advocacy Center, the Inn at USC, and the Kirkland Apartment building

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Terms Used In South Carolina Code > Title 3 > Chapter 3 - Specific Grants or Cessions of Jurisdiction to United States

abatement: refers to actions taken to ameliorate or correct conditions requiring remediation as defined in this section. See South Carolina Code 40-23-20
ABET: means the Accreditation Board for Engineering and Technology. See South Carolina Code 40-22-20
Acceptable collateral: means :

(a) cash, cash equivalents, letters of credit, or direct obligations of, or securities that are fully guaranteed as to principal and interest by the government of the United States, an agency of the United States, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation in respect to securities lending transactions, repurchase transactions, and reverse repurchase transactions and for the purpose of calculating counterparty exposure amount; and

(b) sovereign debt rated 1 by the SVO or an equivalent rating by a nationally recognized statistical rating organization recognized by the SVO as to foreign securities lending transactions. See South Carolina Code 38-12-30
Accident and health insurance: means insurance of human beings against death or personal injury by accident, and each insurance of human beings against sickness, ailment, and any type of physical disability resulting from accident or disease, and prepaid dental service, but not including coverages required by the Workers' Compensation Law of this State. See South Carolina Code 38-1-20
Accident and health insurance: means protection that provides payment of benefits for covered sickness or accidental injury, excluding credit insurance, disability insurance, accidental death and dismemberment insurance, and long-term care insurance. See South Carolina Code 38-12-30
Accident and health insurer: means a licensed life or health insurer or health service corporation whose insurance premiums and required statutory reserves for accident and health insurance are at least ninety-five percent of total premium consideration or total statutory required reserves, respectively. See South Carolina Code 38-12-30
Accredited college or university: means a college or university whose accreditation is recognized by the Council on Higher Education Accreditation and the United States Department of Education. See South Carolina Code 40-35-20
Adjuster: means an individual who determines the extent of insured losses and assists in settling or attempts to settle claims. See South Carolina Code 38-1-20
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
Administrator: means the Attorney General. See South Carolina Code 35-1-102
Admitted asset: means an asset that is identified specifically as an admitted asset within the NAIC accounting manual or is not identified specifically as a nonadmitted asset within the NAIC accounting manual, excluding assets of separate accounts because the investments and investment practices of separate accounts are not subject to the provisions of this chapter. See South Carolina Code 38-12-30
Admitted assets: means assets of an insurer considered admitted on the most recent statutory financial statement of the insurer filed with the department pursuant to § 38-13-80. See South Carolina Code 38-1-20
Admitted insurer: means an insurer licensed to do business in this State. See South Carolina Code 38-1-20
Advertisement: means the publication, dissemination, circulation, or placing before the public an announcement or statement in a newspaper, magazine, or other publication in the form of a book, notice, circular, pamphlet, letter, handbill, poster, bill, sign, placard, card, label, or tag, or over radio, television, or Internet. See South Carolina Code 40-19-20
Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
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.
Affiliate: means , in respect to a person, another person that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person. See South Carolina Code 38-12-30
affiliate: means a person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with a specified person. See South Carolina Code 35-2-201
Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
Agencies: means the Adult Protective Services Program in the Department of Social Services and the Securities Division of the Office of the Attorney General. See South Carolina Code 35-1-800
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. See South Carolina Code 35-1-102
Alien insurer: means an insurer incorporated or organized under the laws of a country other than the United States of America, its states, commonwealths, territories, or insular possessions. See South Carolina Code 38-1-20
Allegation: something that someone says happened.
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.
Amortization: Paying off a loan by regular installments.
announcement date: when used in reference to any business combination, means the date of the first public announcement of the definitive proposal for the business combination, without regard to subsequent amendments. See South Carolina Code 35-2-202
Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
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.
Annuity: means each contract or agreement to make periodic payments, whether in fixed or variable dollar amounts, or both, at specified intervals. See South Carolina Code 38-1-20
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.
Applicant: means a person that files an application for a license pursuant to this act. See South Carolina Code 35-11-105
Appointment: means an individual designated by an official or authorized representative of an authorized insurer to act on its behalf as a producer. See South Carolina Code 38-1-20
Appraisal: A determination of property value.
Apprentice: means a person who is preparing to become licensed for the practice of embalming and funeral directing under the supervision and instruction of a person licensed for the practice in this State and who is registered with the board pursuant to § 40-19-120. See South Carolina Code 40-19-20
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
Approved massage therapy education program: means a supervised educational program in a school approved by the Commission on Higher Education. See South Carolina Code 40-30-30
Approved massage therapy school: means a facility that offers an educational program that meets minimum requirements for training and curriculum as determined by the board pursuant to this chapter and related regulations. See South Carolina Code 40-30-30
Arrest: Taking physical custody of a person by lawful authority.
Asset-backed security: means a security or other instrument, excluding a mutual fund, evidencing an interest in or the right to receive payments from or payable from distributions on an asset, a pool of assets, or specifically divisible cash flows that are transferred legally to a trust or another special purpose bankruptcy-remote business entity, on the following conditions:

(a) the trust or other business entity is established for the sole purpose of acquiring specific types of assets or rights to cash flows, issuing securities and other instruments representing an interest in or right to receive cash flows from those assets or rights, and engaging in activities required to service the assets or rights and any credit enhancement or support features held by the trust or other business entity; and

(b) the sole assets of the trust or other business entity are interest bearing obligations or other contractual obligations representing the right to receive payment from the cash flows from the assets or rights. See South Carolina Code 38-12-30
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
associate: when used to indicate a relationship with any person, means:

(1) any corporation or organization of which the person is an officer or partner or is (directly or indirectly) the beneficial owner of ten percent or more of any class of voting shares;

(2) any trust or other estate in which the person has a substantial beneficial interest or as to which the person serves as trustee or in a similar fiduciary capacity; and

(3) any relative or spouse of the person, or any relative of the spouse, who has the same home as the person. See South Carolina Code 35-2-203
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
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.
Audiologist: means an individual licensed by the State Board of Examiners in Speech Pathology and Audiology as an audiologist. See South Carolina Code 40-25-20
Audiovisual works: means works that consist of a series of related images which are intrinsically intended to be shown by the use of machines or devices such as projectors, viewers, or electronic equipment, together with accompanying sounds, if any, regardless of the nature of the material objects, such as films or tapes, in which the works are embodied. See South Carolina Code 39-77-20
Authorized delegate: means a person a licensee designates to provide money services on behalf of the licensee. See South Carolina Code 35-11-105
Authorized official: means a person acting on behalf of a manufactured home retail dealer. See South Carolina Code 40-29-20
bank: as used in this title must be construed to include all institutions doing any kind of banking business whose deposits are eligible for insurance by the Federal Deposit Insurance Corporation, excluding a savings bank, and "building and loan association" as used in this title must be construed to include a mutual or stock savings association, savings and loan association, or savings bank and all other institutions doing any kind of building and loan business whose deposits are eligible for insurance by the Federal Savings and Loan Insurance Corporation. See South Carolina Code 34-1-10
Bank: means :

(A) a banking institution organized under the laws of the United States;

(B) a member bank of the Federal Reserve System;

(C) any other banking institution, whether incorporated or not, doing business under the laws of a State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to be exercised by national banks under the authority of the Comptroller of the Currency pursuant to Section 1 of Public Law 87-722 (12 U. See South Carolina Code 35-1-102
Bank: means an institution organized under federal or state law which:

(a) accepts demand deposits or deposits that the depositor may use for payment to third parties and which engages in the business of making commercial loans; or

(b) engages in credit card operations and maintains only one office that accepts deposits, does not accept demand deposits or deposits that the depositor may use for payments to third parties, does not accept a savings or time deposit less than one hundred thousand dollars, and does not engage in the business of making commercial loans. See South Carolina Code 35-11-105
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.
beneficial owner: when used with respect to any shares, means a person that:

(1) individually or with or through any of its affiliates or associates beneficially owns the shares (directly or indirectly);

(2) individually or with or through any of its affiliates or associates has:

(A) the right to acquire the shares (whether the right is exercisable immediately or only after the passage of time) under any agreement, arrangement, or understanding (whether or not in writing), or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise. See South Carolina Code 35-2-204
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}
Benefit contract: means the agreement for provision of benefits authorized by this chapter, as that agreement is described in this chapter. See South Carolina Code 38-38-40
Benefit member: means an adult member who is designated by the bylaws or rules of the society to be a benefit member under a benefit contract. See South Carolina Code 38-38-40
Board: means the South Carolina Perpetual Care Cemetery Board. See South Carolina Code 40-8-30
Board: means the South Carolina State Board of Funeral Service. See South Carolina Code 40-19-20
Board: means the South Carolina State Board of Registration for Professional Engineers and Surveyors created pursuant to this chapter. See South Carolina Code 40-22-20
Board: means the South Carolina Environmental Certification Board. See South Carolina Code 40-23-20
Board: means the State Licensing Board for Contractors (excluding mechanical contractors), the State Board of Architectural Examiners, or the State Board of Registration for Professional Engineers (excluding land surveyors), as is applicable to the person performing a commercial inspection. See South Carolina Code 40-26-10
Board: means the Board of Landscape Architectural Examiners. See South Carolina Code 40-28-20
Board: means the South Carolina Manufactured Housing Board. See South Carolina Code 40-29-20
Board: means the South Carolina Massage Therapy Board under the administration of the department. See South Carolina Code 40-30-30
Board: means the South Carolina Board of Long Term Health Care Administrators. See South Carolina Code 40-35-20
Board: means the South Carolina Board of Examiners in Optometry;

(2) "Contact lens" means any device placed in contact with the eye for the purpose of correcting vision, therapy, or cosmetic alteration;

(3) "Direct supervision" means supervision provided by a licensed optometrist who must:

(a) be present in the department or facility where the supervisee is performing services;

(b) be immediately available to assist the supervisee in the services being performed; and

(c) maintain continued involvement in appropriate aspects of each treatment;

(4) "Optical supplies" include, but are not limited to, contact lenses, ophthalmic lenses, ophthalmic frames;

(5) "Basic certified optometrist" means an optometrist without education or training in the use of pharmaceutical agents and licensed to practice optometry without the use of pharmaceutical agents;

(6) "Diagnostic certified optometrist" means an optometrist educated and trained in the use of pharmaceutical agents for diagnostic purposes only and licensed to practice optometry in conjunction with the use of pharmaceutical agents for diagnostic purposes only;

(7) "Therapeutic certified optometrist" means an optometrist educated and trained in the use of pharmacological agents for diagnostic and therapeutic purposes and licensed to practice optometry with the use of pharmacological agents for diagnostic and therapeutic purposes. See South Carolina Code 40-37-20
Board of directors: means the board of directors of the corporation created pursuant to this chapter. See South Carolina Code 33-37-10
Bored: means a large diameter well, commonly greater than or equal to twenty-four inches in diameter, which is typically installed at a very shallow depth and constructed of rock, concrete, or ceramic material. See South Carolina Code 40-23-20
Branch funeral home: means an establishment separate and apart from the licensed parent funeral home that has embalming facilities, a chapel, a lay-out room, or a sales room, or any combination of these. See South Carolina Code 40-19-20
Branch office: means a place of business separate from the principal place of business where engineering services or surveying services are provided. See South Carolina Code 40-22-20
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 South Carolina Code 35-1-102
business combination: when used in reference to any resident domestic corporation and any interested shareholder of the resident domestic corporation, means any of the following:

(1) Any merger of the resident domestic corporation or any subsidiary of the resident domestic corporation with:

(A) the interested shareholder; or

(B) any other corporation (whether or not itself an interested shareholder of the resident domestic corporation) that is, or after the merger or consolidation would be, an affiliate or associate of the interested shareholder. See South Carolina Code 35-2-205
Business entity: means a sole proprietorship, corporation, limited liability company, association, general or limited partnership, joint stock company, joint venture, mutual fund, bank, trust, real estate investment trust, joint tenancy, or other similar form of business organization, whether organized for-profit or not-for-profit. See South Carolina Code 38-12-30
Bylaws: means the society's articles of incorporation, constitution, and bylaws, however designated. See South Carolina Code 38-38-40
Cap: means an agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price or level or the performance or value of one or more underlying interests exceeds a predetermined number, sometimes called the "strike rate" or "strike price". See South Carolina Code 38-12-30
Capital and surplus: means the sum of the capital and surplus of the insurer required to be shown on the statutory financial statement of the insurer filed most recently with the director. See South Carolina Code 38-12-30
Cared-for: means the physical appearance including, but not limited to, shrubs and trees pruned and trimmed, flower beds weeded, drives maintained, and lawns mowed when needed equivalent to once a week during grass growing season with ample rainfall. See South Carolina Code 40-8-30
Cash equivalents: means highly rated, highly liquid, and readily marketable obligations that are convertible readily into known amounts of cash without penalty and have a remaining term to maturity of one year or less. See South Carolina Code 38-12-30
Casualty insurance: means each insurance against legal liability of the insured for bodily injury to or death of another person, including workers' compensation insurance, and for damages to or loss or destruction of the property of another person; medical payments insurance when written in conjunction with insurance covering liability for the deaths or bodily injuries of another person; guaranteeing the fidelity of a person holding a position of public or private trust; loss of or damage to property caused by burglary, theft, larceny, robbery, fraud, or unlawful taking or secretion of property owned by or entrusted to the insured; loss of or damage to property of the insured resulting from the explosion of or damage to a fired or unfired boiler or other pressure vessel, engine, turbine, compressor, pump, wheel, or an apparatus generating, transmitting, or using electric power, and machinery or equipment connected with any of them; loss resulting from nonpayment of debts owed to merchants or another person extending credit. See South Carolina Code 38-1-20
Cemetery: means a place used, dedicated, or designated for cemetery purposes including any one or combination of:

(a) perpetual care cemeteries;

(b) burial parks for earth interment;

(c) mausoleums;

(d) columbariums. See South Carolina Code 40-8-30
Cemetery company: means a legal entity that owns or controls cemetery lands or property and conducts the business of a cemetery, including all cemeteries owned and operated by cemetery sales organizations or cemetery management organizations or any other entity. See South Carolina Code 40-8-30
Certificate: means the document issued as written evidence of the benefit contract. See South Carolina Code 38-38-40
Chambers: A judge's office.
Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
Chiropractic preceptor: means a person licensed under this chapter who is approved by the board to supervise chiropractic students in the performance of chiropractic at a location other than the premises of a chiropractic college in which the student is enrolled. See South Carolina Code 40-9-10
Class one bond mutual fund: means a mutual fund that is qualified for investment using the bond class one reserve factor of the SVO procedures manual. See South Carolina Code 38-12-30
Class one money market mutual fund: means a money market mutual fund that is qualified for investment using the bond class one reserve factor of the SVO procedures manual. See South Carolina Code 38-12-30
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 receives massage therapy from a licensed massage therapist in exchange for compensation. See South Carolina Code 40-30-30
Coastal well: means an opening into the ground, which qualifies as a "well" of Type II, III, IV, or V construction as defined in this section, that is made by boring, drilling, jetting, driving, direct push technology, or any other method into unconsolidated materials, and that does not qualify as an environmental well. See South Carolina Code 40-23-20
Columbarium: means a structure or building substantially exposed aboveground intended to be used for the interment of the cremated remains of a deceased person. See South Carolina Code 40-8-30
Commercial inspection: means the rendering of a written or oral report, for compensation of any sort, as to the condition of the construction or improvements to a commercial structure, including, but not limited to, structural problems and conditions, visible damage, safety problems or deterioration, and equipment and systems that are visible and readily accessible. See South Carolina Code 40-26-10
Commercial inspector: means a natural person licensed, registered, or certified pursuant to Chapter 3 of this title or a natural person licensed as a general contractor pursuant to Chapter 11 of this title or a natural person licensed or registered as a professional engineer pursuant to Chapter 22 of this title, and who, for compensation of any sort, performs a commercial inspection. See South Carolina Code 40-26-10
Commercial recording or audiovisual work: means a recording or audiovisual work whose owner, assignee, authorized agent, or licensee has disseminated or intends to disseminate such recording or audiovisual work for sale, for rental, or for performance or exhibition to the public, including under license, but does not include an excerpt consisting of less than substantially all of a recording or audiovisual work. See South Carolina Code 39-77-20
Commercial structure: means a building, highway, sewer, improvement, reimprovement, or structure, or part thereof, which is not a residence as defined in Article 3 of Chapter 59 of Title 40. See South Carolina Code 40-26-10
Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
Commission: means the State Commission for Hearing Aid Specialists. See South Carolina Code 40-25-20
Commissioner: means the South Carolina Attorney General. See South Carolina Code 35-11-105
common enterprise: means an enterprise in which the fortunes of the investor are interwoven with those of either the person offering the investment, a third party, or other investors; and

(E) "Investment contract" may include, among other contracts, an interest in a limited partnership and a limited liability company and shall include an investment in a viatical settlement or similar agreement. See South Carolina Code 35-1-102
Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
common stock: means any shares other than preferred shares. See South Carolina Code 35-2-206
Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
Construction and Safety Standards Act: means the Federal Manufactured Housing Construction and Safety Standards Act of 1974, as amended. See South Carolina Code 40-29-20
Consumer: means a person who in good faith purchases a manufactured home or mobile home for purposes other than resale. See South Carolina Code 40-29-20
Consumer: means a person who is or has been a resident of a nursing home or community residential care facility. See South Carolina Code 40-35-20
Continuance: Putting off of a hearing ot trial until a later time.
Contract: A legal written agreement that becomes binding when signed.
Contract security business: means engaging in the security business by providing private patrol, watchman, guard, security, or bodyguard service for a fee. See South Carolina Code 40-18-20
Control: means :

(a) ownership of, or the power to vote, directly or indirectly, at least twenty-five percent of a class of voting securities or voting interests of a licensee or person in control of a licensee;

(b) power to elect a majority of executive officers, managers, directors, trustees, or other persons exercising managerial authority of a licensee or person in control of a licensee; or

(c) power to exercise directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee. See South Carolina Code 35-11-105
Control: means the possession, directly or indirectly, by a person of the power to direct or cause the direction of the management and policies of another person, whether through the ownership of voting securities, by contract other than a commercial contract for goods or nonmanagement services, or otherwise, unless the power is the result of an official position with or corporate office held by the person. See South Carolina Code 38-12-30
control share acquisition: means the acquisition (directly or indirectly) by any person of ownership of, or the power to direct the exercise of voting power with respect to, issued and outstanding control shares. See South Carolina Code 35-2-102
control shares: means shares that, except for this article, would have voting power with respect to shares of an issuing public corporation that, when added to all other shares of the issuing public corporation owned by a person or in respect to which that person may exercise or direct the exercise of voting power would entitle that person, immediately after acquisition of the shares (directly or indirectly, alone or as a part of a group), to exercise or direct the exercise of the voting power of the issuing public corporation in the election of directors within any of the following ranges of voting power:

(1) one-fifth or more but less than one-third of all voting power;

(2) one-third or more but less than a majority of all voting power;

(3) a majority or more of all voting power. See South Carolina Code 35-2-101
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
Cosmetologist: means a person including, but not limited to, an independent contractor, not a student, who is licensed to practice cosmetology. See South Carolina Code 40-13-20
Cosmetology: means engaging in any of these practices or a combination of these practices when done for compensation either directly or indirectly:

(a) arranging, styling, thermal curling, chemical waving, pressing, shampooing, cutting, shaping, chemical bleaching, chemical coloring, chemical relaxing, or similar work, upon the hair, wig, or hairpiece of any person, by any means, with hands or mechanical or electrical apparatus or appliances;

(b) using cosmetic preparations, make-up, antiseptics, lotions, creams, chemical preparations on, or otherwise, or waxing, tweezing, cleansing, stimulating, manipulating, beautifying, or similar work on the scalp, legs, feet, face, neck, arms, hands; or

(c) manicuring or pedicuring the nails of a person or similar work. See South Carolina Code 40-13-20
Counterclaim: A claim that a defendant makes against a plaintiff.
Counterparty: means the business entity that is the other party to an investment practices transaction with the insurer or, as to a securities lending transaction, the custodian bank or agent, if any, acting on behalf of the insurer. See South Carolina Code 38-12-30
counterparty exposure amount: means for an over-the-counter derivative instrument:

(i) not entered into pursuant to a written master agreement that provides for netting of payments owed by the respective parties:

(A) the market value of the over-the-counter derivative instrument if the liquidation of the derivative instrument would result in a final cash payment to the insurer; or

(B) zero if the liquidation of the derivative instrument would not result in a final cash payment to the insurer; and

(ii) entered into pursuant to a written master agreement that provides for netting of payments owed by the respective parties, if the domiciliary jurisdiction of the counterparty is either within the United States or within a foreign jurisdiction listed as eligible for netting in the SVO procedures manual, the greater of:

(A) zero; and

(B) the net sum payable to the insurer in connection with all derivative instruments subject to the written master agreement upon their liquidation if the counterparty defaults pursuant to the master agreement, assuming there are no conditions precedent to the obligations of the counterparty to make the payment and no setoff of amounts payable pursuant to any other instrument or agreement. See South Carolina Code 38-12-30
CRCF: means a facility defined for licensing purposes under law or pursuant to regulations for community residential care facilities by the Department of Health and Environmental Control, whether proprietary or nonprofit. See South Carolina Code 40-35-20
CRCFA: means a person who has attained the required education and experience, is otherwise qualified, has been issued a license by the board, and is eligible to administer, manage, supervise, or be in administrative charge of a community residential care facility. See South Carolina Code 40-35-20
Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
Cremation: means the reduction of the dead body by intense heat to residue. See South Carolina Code 40-19-20
Crematory: means an establishment in which the dead body is reduced to residue by intense heat. See South Carolina Code 40-19-20
Crop insurance: includes insurance providing protection against damage to crops from unfavorable weather conditions, fire, lightning, flood, hail, insect infestation, disease, or other yield-reducing conditions or perils provided by the private insurance market, or that is subsidized by the Federal Crop Insurance Corporation, including Multi-Peril Crop Insurance. See South Carolina Code 38-1-20
Currency exchange: means receipt of revenues from the exchange of money of one government for money of another government. See South Carolina Code 35-11-105
Currently enrolled student: means a student who is enrolled and actively participating in an approved massage therapy school or an approved massage therapy education program. See South Carolina Code 40-30-30
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Decedent: A deceased person.
Deed: The legal instrument used to transfer title in real property from one person to another.
Defect: includes a defect in the performance, construction, components, or material of a manufactured home that renders the home or any part of it not fit for the ordinary use for which it was intended. See South Carolina Code 40-29-20
Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-8-30
Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-22-20
Department: means the Department of Health and Environmental Control. See South Carolina Code 40-25-20
Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-28-20
Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-30-30
Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-35-20
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
Dependent: A person dependent for support upon another.
Depository institution: means :

(A) a bank; or

(B) a savings institution, trust company, credit union, or similar institution that is organized or chartered under the laws of a State or of the United States, authorized to receive deposits, and supervised and examined by an official or agency of a State or the United States if its deposits or share accounts are insured to the maximum amount authorized by statute by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund, or a successor authorized by federal law. See South Carolina Code 35-1-102
derivative instrument: includes options, warrants not attached to another financial instrument purchased by the insurer, caps, floors, collars, swaps, forwards, futures, and other substantially similar agreements, options, or instruments, or a series or combination of any of them. See South Carolina Code 38-12-30
Derivative transaction: means a transaction involving the use of one or more derivative instruments. See South Carolina Code 38-12-30
Design coordination: includes the review and coordination of those technical submissions prepared by others, including as appropriate and without limitation, consulting engineers, architects, landscape architects, surveyors, and other professionals working under the direction of the engineer. See South Carolina Code 40-22-20
Designee or deputy director: means the person or persons appointed by the director, serving at the will and pleasure of the director as his designee, to supervise and carry out the functions and duties of the department as provided by law. See South Carolina Code 38-1-20
Devise: To gift property by will.
Direct push technology: means the creation of a man-made opening in the earth through the use of mechanical means wherein a tool is forced or hammered into the earth. See South Carolina Code 40-23-20
Direct supervision: means the chiropractic preceptor must be within the immediate patient treatment area and available to the student at all times. See South Carolina Code 40-9-10
Direct supervision: means supervision provided by a licensee who must:

(a) be on-site or immediately available to supervise persons by means of telephone, radio, or other electronic means; and

(b) maintain continued involvement in appropriate aspects of each professional activity of the supervisee. See South Carolina Code 40-23-20
directly: when used in connection with an obligation, means that the designated obligor is primarily liable on the instrument representing the obligation. See South Carolina Code 38-12-30
Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
Director: means the Director of the Department of Labor, Licensing and Regulation, or the director's official designee. See South Carolina Code 40-8-30
Director: means the Director of Labor, Licensing and Regulation. See South Carolina Code 40-23-20
Director: means the Director of the Department of Labor, Licensing and Regulation. See South Carolina Code 40-30-30
Director: means the Director of the Department of Insurance of this State. See South Carolina Code 38-38-40
Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
Disposition: means the final disposal of the body whether by earth interment, aboveground burial, cremation, burial at sea, or delivery to a medical institution for lawful dissection and experimentation or removal from the State pursuant to obtaining a burial transit permit. See South Carolina Code 40-19-20
Docket: A log containing brief entries of court proceedings.
Dollar roll transaction: means two simultaneous transactions with different settlement dates no more than ninety-six days apart, so that in the transaction with the earlier settlement date an insurer sells to a counterparty, and in the other transaction the insurer is obligated to purchase from the same counterparty, substantially similar securities of the following types:

(a) asset-backed securities issued, assumed, or guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation, or their respective successors; and

(b) other asset-backed securities referred to in Section 106 of Title I of the Secondary Mortgage Market Enhancement Act of 1984 (15 U. See South Carolina Code 38-12-30
Domestic insurer: means an insurer incorporated or organized under the laws of this State. See South Carolina Code 38-1-20
Domestic jurisdiction: means the United States, Canada, or a state, province, or political subdivision of them. See South Carolina Code 38-12-30
Electronic dissemination: means initiating a transmission of, making available, or otherwise offering a commercial recording or audiovisual work for distribution, display, or performance through the Internet or other digital network, regardless of whether another person has previously electronically disseminated the same commercial recording or audiovisual work. See South Carolina Code 39-77-20
Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
Eligible adult: means :

(a) a person fifty-five years of age or older; or

(b) a vulnerable adult subject to § 43-35-10(11). See South Carolina Code 35-1-800
Eligible surplus lines insurer: means a nonadmitted insurer with which a licensed broker, or a licensed producer as provided in § 38-45-10(8)(b)(ii), may place surplus lines insurance. See South Carolina Code 38-1-20
Embalmer: means a person licensed by the board to disinfect and preserve or attempt to disinfect and preserve the dead human body, entirely or in part, by the use of application of chemicals, fluids, or gases, externally or internally, or both, by their introduction into the body by vascular or hypodermic injections, by direct application into the organs or cavities, or by other method and includes the restoration or attempted restoration of the appearance of the dead human body. See South Carolina Code 40-19-20
Embalming: means the disinfection of the dead human body by replacing certain body fluids with preserving and disinfecting chemicals. See South Carolina Code 40-19-20
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}
Emeritus landscape architect: means a landscape architect who has been licensed for ten consecutive years or longer and who is sixty-five years of age or older and who is not engaging or offering to engage in the practice of landscape architecture as defined in this section. See South Carolina Code 40-28-20
Engaged in practice: means holding one's self out to the public as being qualified and available to perform engineering or surveying services. See South Carolina Code 40-22-20
Engineer: means a professional engineer as defined in this section. See South Carolina Code 40-22-20
Engineer-in-training: means a person who has qualified for and passed the NCEES Fundamentals of Engineering examination as provided in this chapter and is entitled to receive a certificate as an engineer-in-training. See South Carolina Code 40-22-20
Engineering surveys: means all minor survey activities required to support the sound conception, planning, design, construction, maintenance, operation, and investigation of engineered projects but exclude the surveying of real property for the establishment of land boundaries, rights-of-way, and easements and the independent surveys or resurveys of general land masses. See South Carolina Code 40-22-20
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.
Entity: means a sole proprietorship, partnership, limited liability partnership, limited liability company, or other business entity or association as approved by the board. See South Carolina Code 40-30-30
Environmental systems operator: is a generic term for any occupation licensed by the board. See South Carolina Code 40-23-20
Environmental well: means an opening into the ground which qualifies as a "well" of Type I, II, III, IV, or V construction as defined in this section, that is made by boring, drilling, jetting, driving, direct push technology, or any other method for obtaining a sample of underground waters or soils for environmental or geological investigation or research or for environmental remediation, where the depth of the opening is reasonably likely to penetrate the water table. See South Carolina Code 40-23-20
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}
Equity interest: means any of the following that are not rated credit instruments:

(a) common stock;

(b) preferred stock;

(c) trust certificate;

(d) equity investment in an investment company other than a money market mutual fund or a class one bond mutual fund;

(e) investment in a common trust fund of a bank regulated by a federal or state agency;

(f) an ownership interest in minerals, oil, or gas, the rights to which have been separated from the underlying fee interest in the real estate where the minerals, oil, or gas are located;

(g) instruments which are mandatorily, or at the option of the issuer, convertible to equity;

(h) limited partnership interests and those general partnership interests authorized by § 38-12-60(A)(4);

(i) member interests in limited liability companies;

(j) warrants or other rights to acquire equity interests that are created by the owner or issuer of the equity to be acquired; or

(k) instruments that would be rated credit instruments except for the provisions of item (73)(b). See South Carolina Code 38-12-30
Equivalent securities: means securities that are identical to the:

(a) loaned securities in all features including the amount of the loaned securities, except as to certificate number if held in physical form, but if a different security is exchanged for a loaned security by recapitalization, merger, consolidation, or other corporate action, the different security is considered to be the loaned security, in a securities lending transaction;

(b) purchased securities in all features including the amount of the purchased securities, except as to the certificate number if held in physical form, in a repurchase transaction; or

(c) sold securities in all features including the amount of the sold securities, except as to the certificate number if held in physical form, in a reverse repurchase transaction. See South Carolina Code 38-12-30
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Established place of business: means the office, building, or display area where the exercise of the ordinary and regular functions of the business are conducted for the purpose of carrying on the business of the owner and where books, records, files, inventory, and equipment necessary to properly conduct the business are maintained. See South Carolina Code 40-29-20
Esthetician: means a person including, but not limited to, an independent contractor, who is licensed to practice skin care, make-up, or similar work. See South Carolina Code 40-13-20
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.
Ex officio: Literally, by virtue of one's office.
Exchange Act: means the act of Congress known as the Securities Exchange Act of 1934, as amended. See South Carolina Code 35-2-103
Exchange Act: means the act of Congress known as the Securities Exchange Act of 1934, as amended. See South Carolina Code 35-2-209
Executive officer: means a president, chairperson of the executive committee, chief financial officer, responsible individual, or other individual who performs similar functions. See South Carolina Code 35-11-105
Executor: A male person named in a will to carry out the decedent
Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Federal covered investment adviser: means a person registered under the Investment Advisers Act of 1940. See South Carolina Code 35-1-102
Federal covered security: means a security that is, or upon completion of a transaction will be, a covered security under Section 18(b) of the Securities Act of 1933 (15 U. See South Carolina Code 35-1-102
Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Fiduciary: A trustee, executor, or administrator.
Filing: means the receipt under this chapter of a record by the Securities Commissioner or a designee of the Securities Commissioner. See South Carolina Code 35-1-102
Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
Financial exploitation: means :

(a) the wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or property of an eligible adult; or

(b) any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:

(i) obtain the control, use, or benefit, through deception, intimidation, or undue influence, or by the use of any scheme, device, or artifice to defraud, of the eligible adult's money, assets, or property to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property; or

(ii) convert the money, assets, or property of the eligible adult to deprive the eligible adult of the ownership, use, benefit, or possession of his money, assets, or property. See South Carolina Code 35-1-800
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: means a business entity functioning as a sole proprietorship, partnership, limited liability partnership, professional association, professional corporation, business corporation, limited liability company, joint venture, or other legally constituted organization which practices or offers to practice engineering or surveying, or both. See South Carolina Code 40-22-20
Firm: means a business entity functioning as a sole proprietorship, partnership, limited liability partnership, professional association, professional corporation, business corporation, limited liability company, joint venture, or other legally constituted organization that practices or offers to practice landscape architecture. See South Carolina Code 40-28-20
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.
Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
- You are late making a payment or commit some other default, triggering an increase to a penalty rate
- The bank changes the terms of your account and you do not reject the change.
- The rate expires (if the rate was fixed for only a certain period of time).
Floor: means an agreement obligating the seller to make payments to the buyer in which each payment is based on the amount by which a predetermined number, sometimes called the floor rate or price, exceeds a reference price, level, performance, or value of one or more underlying interests. See South Carolina Code 38-12-30
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
Foreign currency: means a currency other than that of a domestic jurisdiction. See South Carolina Code 38-12-30
Foreign insurer: means an insurer incorporated or organized under the laws of the United States or of any jurisdiction within the United States other than this State. See South Carolina Code 38-1-20
Foreign jurisdiction: means a jurisdiction other than a domestic jurisdiction. See South Carolina Code 38-12-30
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}
Forward: means an agreement, other than a future, to make or take delivery in the future of, or effect a cash settlement based on the actual or expected price, level, performance, or value of, one or more underlying interests. See South Carolina Code 38-12-30
Fraud: Intentional deception resulting in injury to another.
Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. ^{Source: OCC}
funeral: means a period following death in which there are religious services or other rites or ceremonies with the body of the deceased present. See South Carolina Code 40-19-20
Funeral director: means a person licensed by the board to engage for hire or profit in the profession of arranging, directing, or supervising funerals. See South Carolina Code 40-19-20
Funeral merchandise: means that personal property used in connection with the conduct of funerals or with the transportation and final disposition of a dead human body including, but not limited to, caskets, cremation caskets, urns, and burial clothing. See South Carolina Code 40-19-20
Future: includes an insurance future. See South Carolina Code 38-12-30
Futures exchange: means a qualified foreign exchange or an exchange, contract market, or board of trade on which trading in futures is conducted that the Commodities Futures Trading Commission or its successor has authorized for futures trading in the United States. See South Carolina Code 38-12-30
Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
GIS: means geographic information systems. See South Carolina Code 40-22-20
Good character: refers to a person of good moral character and one who has not been convicted of a violent crime, as defined in § 16-1-60, or a crime of moral turpitude. See South Carolina Code 40-22-20
Government money market mutual fund: means a money market mutual fund that at all times:

(a) invests only in obligations issued, guaranteed, or insured by the federal government of the United States or collateralized repurchase agreements composed of these obligations; and

(b) qualifies for investment without a reserve pursuant to the SVO procedures manual. See South Carolina Code 38-12-30
Government sponsored enterprise: means a:

(a) governmental agency; or

(b) corporation, limited liability company, association, partnership, joint stock company, joint venture, trust, or other entity or instrumentality organized pursuant to the laws of a domestic jurisdiction to accomplish a public policy or other governmental purpose. See South Carolina Code 38-12-30
Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
Grantor: The person who establishes a trust and places property into it.
Grave space: means a space of ground in a cemetery intended to be used for the interment in the ground of the remains of a deceased person. See South Carolina Code 40-8-30
Gross negligence: means an act or course of action, or inaction, which denotes a lack of reasonable care and a conscious disregard or indifference to the rights, safety, or welfare of others and which does or could result in financial loss, injury, or damage to life or property. See South Carolina Code 40-22-20
Guaranteed: means guaranteed as to payment of all principal and all interest. See South Carolina Code 35-1-102
Guaranteed or insured: when used in connection with an obligation acquired pursuant to this chapter, means that the guarantor or insurer has agreed to:

(a) perform or insure the obligation of the obligor or purchase the obligation; or

(b) be obligated unconditionally until the obligation is repaid to maintain in the obligor a minimum net worth, fixed charge coverage, stockholders' equity, or sufficient liquidity to enable the obligor to pay the obligation in full. See South Carolina Code 38-12-30
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
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.
Habilitation center for persons with intellectual disability or persons with related conditions: means a facility which is licensed by the Department of Health and Environmental Control and that serves four or more persons with intellectual disability or persons with related conditions and provides health or rehabilitative services on a regular basis to individuals whose mental and physical conditions require services including room, board, and active treatment for their intellectual disability or related conditions. See South Carolina Code 40-35-20
Hair braiding: means the weaving or interweaving of natural human hair for compensation without cutting, coloring, permanent waving, relaxing, removing, or chemical treatment. See South Carolina Code 40-7-20
Hearing aid: means an acceptable wearable instrument or device designated or offered to aid or compensate for impaired human hearing and parts, attachments, or accessories, including earmold, but excluding batteries and cords. See South Carolina Code 40-25-20
Hearing aid specialist: means an individual licensed under this chapter to engage in the practice of specializing in hearing aids. See South Carolina Code 40-25-20
Hedging transaction: means a derivative transaction that is entered into and maintained to reduce the:

(a) risk of a change in the value, yield, price, cash flow, or quantity of assets or liabilities, or a portfolio of assets or liabilities or both, that an insurer has acquired or incurred or anticipates acquiring or incurring; or

(b) currency exchange rate risk related to assets or liabilities, or a portfolio of assets or liabilities, or both of them, that an insurer has acquired or incurred or anticipates acquiring or incurring. See South Carolina Code 38-12-30
High grade investment: means a rated credit instrument rated 1, 2, P1, P2, PFS1, or PFS2 by the SVO or an equivalent rating by a nationally recognized statistical rating organization recognized by the SVO. See South Carolina Code 38-12-30
highly rated: means an investment rated "P-1" by Moody's Investors Service, Incorporated, or "A-1" by the Standard and Poor's Division of The McGraw Hill Companies, Incorporated, or an equivalent rating by a nationally recognized statistical rating organization recognized by the SVO. See South Carolina Code 38-12-30
Home state: means the District of Columbia and a state or territory of the United States in which an insurance producer maintains his principal place of residence or principal place of business and is licensed to act as an insurance producer. See South Carolina Code 38-1-20
Human consumption: means water used for drinking, bathing, cooking, dishwashing, maintaining oral hygiene, or other similar uses. See South Carolina Code 40-23-20
Hydrotherapy: means the use of water, vapor, or ice for treatment of superficial tissues. See South Carolina Code 40-30-30
Imminent safety hazard: means a hazard that presents an imminent and unreasonable risk of death or severe personal injury. See South Carolina Code 40-29-20
Income generation transaction: means a derivative transaction that is intended to generate income or enhance return. See South Carolina Code 38-12-30
Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
Independent contractor: means a licensed practitioner who rents or leases a place or part of a place in a beauty salon. See South Carolina Code 40-13-20
Initial margin: means the amount of cash, securities, or other consideration initially required to be deposited to establish a futures position. See South Carolina Code 38-12-30
Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
Inspector: means an inspector employed by the Department of Labor, Licensing and Regulation. See South Carolina Code 40-19-20
Institutional investor: means any of the following, whether acting for itself or for others in a fiduciary capacity:

(A) a depository institution or international banking institution;

(B) an insurance company;

(C) a separate account of an insurance company;

(D) an investment company as defined in the Investment Company Act of 1940;

(E) a broker-dealer registered under the Securities Exchange Act of 1934;

(F) an employee pension, profit-sharing, or benefit plan if the plan has total assets in excess of ten million dollars or its investment decisions are made by a named fiduciary, as defined in the Employee Retirement Income Security Act of 1974, that is a broker-dealer registered under the Securities Exchange Act of 1934, an investment adviser registered or exempt from registration under the Investment Advisers Act of 1940, an investment adviser registered under this chapter, a depository institution, or an insurance company;

(G) a plan established and maintained by a State, a political subdivision of a State, or an agency or instrumentality of a State or a political subdivision of a State for the benefit of its employees, if the plan has total assets in excess of ten million dollars or its investment decisions are made by a duly designated public official or by a named fiduciary, as defined in the Employee Retirement Income Security Act of 1974, that is a broker-dealer registered under the Securities Exchange Act of 1934, an investment adviser registered or exempt from registration under the Investment Advisers Act of 1940, an investment adviser registered under this chapter, a depository institution, or an insurance company;

(H) a trust, if it has total assets in excess of ten million dollars, its trustee is a depository institution, and its participants are exclusively plans of the types identified in subparagraph (F) or (G), regardless of the size of their assets, except a trust that includes as participants self-directed individual retirement accounts or similar self-directed plans;

(I) an organization described in Section 501(c)(3) of the Internal Revenue Code (26 U. See South Carolina Code 35-1-102
Instructor: means a person who is licensed to teach cosmetology or any practices of cosmetology in accordance with this chapter. See South Carolina Code 40-13-20
insurance: includes annuities. See South Carolina Code 38-1-20
Insurance broker: means an individual licensed by the department to represent citizens of this State in placing their insurance. See South Carolina Code 38-1-20
Insurance company: means an "insurer". See South Carolina Code 38-1-20
Insurance company: means a company organized as an insurance company whose primary business is writing insurance or reinsuring risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State. See South Carolina Code 35-1-102
Insurance future: means a future relating to an index or pool that is based on insurance-related items. See South Carolina Code 38-12-30
Insurance futures option: means an option on an insurance future. See South Carolina Code 38-12-30
Insured: means insured as to payment of all principal and all interest. See South Carolina Code 35-1-102
Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
interested shareholder: when used in reference to any resident domestic corporation, means any person (other than the resident domestic corporation or any subsidiary of the resident domestic corporation) that is:

(1) the beneficial owner (directly or indirectly) of ten percent or more of the voting power of the outstanding voting shares of the resident domestic corporation; or

(2) an affiliate or associate of the resident domestic corporation and at any time within the two-year period immediately before the date in question was the beneficial owner (directly or indirectly) of ten percent or more of the voting power of the then outstanding shares of the resident domestic corporation. See South Carolina Code 35-2-210
interested shares: means the shares of an issuing public corporation in respect of which any of the following persons may exercise or direct the exercise of the voting power of the corporation in the election of directors:

(1) an acquiring person or member of a group with respect to a control share acquisition;

(2) any officer of the issuing public corporation;

(3) any employee of the issuing public corporation who is also a director of the corporation. See South Carolina Code 35-2-103
International banking institution: means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933. See South Carolina Code 35-1-102
Investment adviser: means a person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See South Carolina Code 35-1-102
Investment adviser representative: means an individual employed by or associated with an investment adviser or federal covered investment adviser and who makes any recommendations or otherwise gives investment advice regarding securities, manages securities accounts or portfolios of clients, determines which recommendation or advice regarding securities should be given, provides investment advice regarding securities or holds herself or himself out as providing investment advice regarding securities, receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice regarding securities, or supervises employees who perform any of the foregoing. See South Carolina Code 35-1-102
Investment affiliate: means a subsidiary of an insurer or a direct or indirect subsidiary of the insurer's parent company (parent) that is engaged or organized to engage exclusively in the ownership and management of assets authorized as investments for the insurer, if the affiliate agrees to limit its investment in any asset so that its investments will not cause the amount of the total investment of the insurer to exceed the investment limitations or avoid other provisions of this chapter applicable to the insurer. See South Carolina Code 38-12-30
Investment company: means an investment company as defined in Section 3(a) of the Investment Company Act of 1940 (15 U. See South Carolina Code 38-12-30
Investment company series: means an investment portfolio of an investment company organized as a series company to which portfolio assets of the investment company have been allocated specifically. See South Carolina Code 38-12-30
Investment practices: means transactions of the types described in Sections 38-12-280, 38-12-300, 38-12-490, and 38-12-510. See South Carolina Code 38-12-30
Investment strategy: means the techniques and methods used by an insurer to meet its investment objectives, such as active bond portfolio management, passive bond portfolio management, interest rate anticipation, growth investing, and value investing. See South Carolina Code 38-12-30
Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
Issuer: means a person that issues or proposes to issue a security, subject to the following:

(A) The issuer of a voting trust certificate, collateral trust certificate, certificate of deposit for a security, or share in an investment company without a board of directors or individuals performing similar functions is the person performing the acts and assuming the duties of depositor or manager pursuant to the trust or other agreement or instrument under which the security is issued. See South Carolina Code 35-1-102
issuing public corporation: means a domestic corporation that has either:

(1) a class of voting shares registered with the Securities and Exchange Commission or another federal agency under Section 12 of the 1934 Exchange Act; and

(2) its principal place of business, its principal office, or substantial assets within South Carolina; and either:

(A) more than ten percent of its shareholders resident in South Carolina;

(B) more than ten percent of its shares owned by South Carolina residents; or

(C) ten thousand shareholders resident in South Carolina. See South Carolina Code 35-2-104
Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
Jurisprudence: The study of law and the structure of the legal system.
Landscape architect: means a person licensed to practice landscape architecture in this State. See South Carolina Code 40-28-20
Landscape architecture: means the performance of professional services, such as consultation, investigation, research, planning, design, preparation of drawings and specifications, and responsible inspection in connection with the development of land areas where, and to the extent that, the dominant purpose of the services is the preservation, enhancement, or determination of proper site design, natural land features, planting, naturalistic and aesthetic values, the settings and approaches to structures or other improvements, the setting of grades and determining drainage and providing for drainage structures, and the consideration and determining of environmental problems. See South Carolina Code 40-28-20
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}
Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
Legatee: A beneficiary of a decedent
Letter of credit: means a clean, irrevocable, and unconditional letter of credit issued or confirmed by, and payable and presentable at, a financial institution on the list of financial institutions meeting the standards for issuing letters of credit pursuant to the SVO procedures manual. See South Carolina Code 38-12-30
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
License: means a document issued by the state's director or his designee authorizing a person to act as an insurance producer for the lines of authority specified in the document. See South Carolina Code 38-1-20
License: means a serially numbered document issued by the board, containing the name of the person registered, certified, or licensed and the date of registration, certification, or licensing and certifying that the person named is authorized to practice a profession regulated by the board as specified on said document. See South Carolina Code 40-23-20
License: means a license issued by the department under this chapter to hearing aid specialists. See South Carolina Code 40-25-20
Licensed: means authorized by this board, pursuant to the statutory powers delegated by the State to this board, to engage in the practice of engineering, or surveying, or engineering and surveying, as evidenced by the board's certificate issued to the registered license holder. See South Carolina Code 40-22-20
Licensed activity: means any operation, function, or action of any kind in which one may not engage, or offer to engage, without a license issued pursuant to this chapter. See South Carolina Code 40-23-20
Licensed massage therapy supervisor: means a licensed massage therapist who has been in good standing for at least two years and who supervises a currently enrolled student. See South Carolina Code 40-30-30
Licensee: means a person granted an authorization to operate pursuant to this chapter and refers to a person holding a license granted pursuant to this chapter. See South Carolina Code 40-8-30
Licensee: means a person currently or previously authorized to practice a licensed activity pursuant to this chapter and includes a person holding a license, permit, certification, or registration granted pursuant to this chapter. See South Carolina Code 40-23-20
Licensee: means a person licensed pursuant to this act. See South Carolina Code 35-11-105
Licensure: means the procedure by which an individual applies to the department and is granted approval to practice massage therapy, or the procedure by which an establishment applies to the department and is granted approval to operate as a massage therapy establishment or a sole practitioner establishment. See South Carolina Code 40-30-30
Lien: A claim against real or personal property in satisfaction of a debt.
Life insurance: means a contract of insurance upon the lives of human beings. See South Carolina Code 38-1-20
Limited liability company: means a business organization, excluding partnerships and ordinary business corporations, organized or operating pursuant to the laws of the United States or a state of the United States that limits the personal liability of investors to the equity investment of the investor in the business entity. See South Carolina Code 38-12-30
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
Lodge: means subordinate member units of the society, known as camps, courts, councils, branches, or by any other designation. See South Carolina Code 38-38-40
Lower grade investment: means a rated credit instrument rated 4, 5, 6, P4, P5, P6, PFS4, PFS5, or PFS6 by the SVO or an equivalent rating by a nationally recognized statistical rating organization recognized by the SVO. See South Carolina Code 38-12-30
Manager: means a licensed funeral director who has been licensed in this State for at least one year, who is a full-time regular employee, and who is responsible for and has the binding authority from the owner for the day-to-day management of funeral establishments or crematories including compliance with all applicable laws governed by this chapter and Chapters 7 and 8, Title 32. See South Carolina Code 40-19-20
Manufactured home: means a structure, transportable in one or more sections which, in the traveling mode, is eight body feet or more in width or forty body feet or more in length or when erected on site is three hundred twenty or more square feet and which is built on a permanent chassis and designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities and includes the plumbing, heating, air conditioning, and electrical systems contained in it. See South Carolina Code 40-29-20
Manufactured home contractor: means a person or entity, other than an employee of a licensed manufactured home retail dealer or a person licensed by the board or licensed by the South Carolina Contractor's Licensing Board to perform a particular function, who for valuable consideration engages in the installation, modification, alteration, or repair to the structural, mechanical, or electrical systems of a manufactured home. See South Carolina Code 40-29-20
Manufactured home installer: means a person or entity, other than an employee of a licensed manufactured home retail dealer or a person licensed by the board or licensed by the South Carolina Contractor's Licensing Board to perform a particular function, who for valuable consideration installs manufactured housing. See South Carolina Code 40-29-20
Manufactured home manufacturer: means a person, resident, or nonresident, who designs, constructs, or produces manufactured homes. See South Carolina Code 40-29-20
Manufactured home repairer: means a person or entity, other than an employee of a licensed manufactured home retail dealer or a person licensed by the board or licensed by the South Carolina Contractor's Licensing Board to perform a particular function, who for valuable consideration modifies, alters, or repairs the structural, mechanical, or electrical systems of a manufactured home. See South Carolina Code 40-29-20
Manufactured home retail dealer: means a person engaged in the business of buying, selling, offering for sale, or dealing in manufactured homes or offering for display manufactured homes for sale in South Carolina. See South Carolina Code 40-29-20
Manufactured home retail salesman: means a person who is an employee or otherwise acts as an agent or representative of a manufactured home retail dealer and holds himself out as promoting, offering for sale, or selling the manufactured home retail dealer's goods or services. See South Carolina Code 40-29-20
Marine insurance: means each insurance against loss or destruction of or damage to aircraft, vessels, or watercraft and their cargoes; insurance covering the risks or perils of navigation, transit, or transportation of all forms of property, including the liability of a carrier for hire for the loss of property of shippers delivered for transporting; marine builder's risks; bridges, tunnels, piers, wharves, docks and slips, dry docks, marine railways, and other aids to navigation and transportation, precious stones, precious metals, and jewelry, whether in the course of transportation or otherwise; coverage of personal property by all risk forms known as the "Personal Property Floater"; and coverage of mobile machinery and equipment. See South Carolina Code 38-1-20
Market value: means :

(a) the amount of cash or a letter of credit; or

(b) the price of a security or derivative instrument on any date obtained from a generally recognized source or the most recent quotation from the source or, to the extent no generally recognized source exists, the price for the security or derivative instrument as determined pursuant to the terms of the instrument or in good faith by the parties to a transaction, plus accrued but unpaid income on the security or derivative instrument to the extent that income is not included in the price as of the date that market value is determined. See South Carolina Code 38-12-30
market value: when used in reference to shares or property of any resident domestic corporation, means the following:

(1) In the case of shares, the highest closing sale price of a share during the thirty-day period immediately preceding the date in question on the composite tape for New York Stock Exchange listed shares, or, if the shares are not quoted on the composite tape or not listed on the New York Stock Exchange, on the principal United States securities exchange registered under the Exchange Act on which the shares are listed, or, if the shares are not listed on any such exchange, the highest closing bid quotation with respect to a share during the thirty-day period preceding the date in question on the National Association of Securities Dealers, Inc. See South Carolina Code 35-2-211
Massage therapist: means an individual licensed as required by this chapter, who administers massage therapy for compensation. See South Carolina Code 40-30-30
Massage therapy: means the application of a system of structured touch to the soft tissues of the human body with the hand, foot, knee, arm, or elbow, whether or not the structured touch is aided by hydrotherapy, thermal therapy, a massage therapy device, or application to the human body of an herbal preparation. See South Carolina Code 40-30-30
Massage therapy establishment: means an entity with a physical site or premise, licensed as required by this chapter, in which licensed massage therapists are employees or contractors practicing massage therapy on clients. See South Carolina Code 40-30-30
Mausoleum: means a structure or building substantially exposed aboveground, intended to be used for the entombment of the remains of a deceased person. See South Carolina Code 40-8-30
Medium grade investment: means a rated credit instrument that at the time of acquisition by the insurer is rated 3, P3 or PSF3 by the SVO or an equivalent rating by a nationally recognized statistical rating organization recognized by the SVO. See South Carolina Code 38-12-30
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
Memorial: means a bronze marker set approximately level with the turf for the purpose of identification, or interchanged to mean upright markers in garden sections which are plotted and specified for the use of upright markers. See South Carolina Code 40-8-30
Merchandise: means items used in connection with grave space, niches, mausoleum crypts, granite, memorials, grave liners, and vaults; however, merchandise shall expressly exclude caskets and cremation urns, burial clothing, facilities used for preparation, viewing, and automotive equipment and transportation. See South Carolina Code 40-8-30
Misconduct: means the violation of a provision of this chapter or of a regulation promulgated by the board pursuant to this chapter. See South Carolina Code 40-22-20
Monetary value: means a medium of exchange, whether or not redeemable in money. See South Carolina Code 35-11-105
Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See South Carolina Code 35-11-105
Money market mutual fund: means a mutual fund that meets the conditions of 17 Code of Federal Regulations Par. See South Carolina Code 38-12-30
Money services: means money transmission or currency exchange. See South Carolina Code 35-11-105
Money transmission: means selling or issuing payment instruments, stored value, or receiving money or monetary value for transmission. See South Carolina Code 35-11-105
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
Mortgage loan: means an obligation secured by a mortgage, deed of trust, trust deed, or other consensual lien on real estate. See South Carolina Code 38-12-30
mortuary: means an establishment where the practice of funeral service and embalming is practiced. See South Carolina Code 40-19-20
Multilateral development bank: means an international development organization of which the United States is a member. See South Carolina Code 38-12-30
municipality: shall mean an incorporated city or town, irrespective of its population;

(2) The term "municipal council" shall mean the governing body of any incorporated city or town;

(3) The term "corporate purpose" shall denote any public purpose, necessary or convenient to the welfare of the municipality and shall include the funding of existing indebtedness, evidenced otherwise than by bonds of the municipality; and

(4) The word "commissioners" shall mean the commissioners of public works or the board of public works or other body established by law and given the power of operating any waterworks system, electric light system, sewage system or other municipal utility. See South Carolina Code 5-21-220
municipality: shall mean an incorporated city or town, irrespective of its population;

(2) The term "municipal council" shall mean the governing body of any incorporated city or town; and

(3) The word "assessments" shall denote such sums as may be due to the municipality by reason of improvements to streets and sidewalks, in the nature of roadway paving, sidewalk paving, the installation of curbs, the installation of gutters, the installation of storm drains or sewers, the paving of sidewalk or roadway intersections, street lighting or any other improvement for which such municipality shall be authorized to pay, in whole or in part, through the means of assessments against the real property benefited thereby. See South Carolina Code 5-21-620
Mutual fund: means an investment company or, in the case of an investment company that is organized as a series company, an investment company series, that, in either case, is registered with the United States Securities and Exchange Commission pursuant to the Investment Company Act of 1940 (15 U. See South Carolina Code 38-12-30
NAIC: means the National Association of Insurance Commissioners. See South Carolina Code 38-12-30
NAIC accounting manual: means the NAIC "Accounting Practices and Procedures Manual" as amended, or any successor publication. See South Carolina Code 38-12-30
Nail technician: means a person including, but not limited to, an independent contractor, who is licensed to practice manicuring or pedicuring the nails or similar work. See South Carolina Code 40-13-20
National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
NCEES examination: means those written or electronic tests developed and administered by the National Council of Examiners for Engineering and Surveying for the purpose of providing one indication of competency to practice engineering. See South Carolina Code 40-22-20
Negotiate: means the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a particular contract of insurance concerning substantive benefits, terms, or conditions of the contract, provided that the person engaged in that act either sells insurance or obtains insurance from insurers for purchasers. See South Carolina Code 38-1-20
New manufactured home: means a home that has not been previously titled and is still in the possession of the original retail dealer. See South Carolina Code 40-29-20
NHA: means a person who has attained the requisite education and experience, is otherwise qualified, and has been issued a license by the board and is eligible to administer, manage, supervise, or be in administrative charge of a nursing home. See South Carolina Code 40-35-20
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.
nonissuer distribution: means a transaction or distribution not directly or indirectly for the benefit of the issuer. See South Carolina Code 35-1-102
Nursing home: means an institution or facility defined for licensing purposes under law or pursuant to regulations for nursing homes promulgated by the Department of Health and Environmental Control, whether proprietary or nonprofit including, but not limited to, nursing homes owned or administered by the State or a political subdivision of the State. See South Carolina Code 40-35-20
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.
Obligation: means a bond, note, debenture, trust certificate including an equipment trust certificate, production payment, negotiable bank certificate of deposit, bankers' acceptance, asset-backed security, credit tenant loan, loan secured by financing a net lease or net leases, and other evidence of indebtedness for the payment of money, or participations, certificates, or other evidences of an interest in any of them, whether constituting a general obligation of the issuer or payable only out of certain revenues or certain funds pledged or otherwise dedicated for payment. See South Carolina Code 38-12-30
Offer to purchase: includes an attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value. See South Carolina Code 35-1-102
Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
operator: means a person employed in a public water distribution system whose duties include making process control and system integrity decisions about water quality or quantity that affect public health. See South Carolina Code 40-23-20
Operator: means the licensed optometrist, optometric practice, or organization engaged in providing optometric services directly or through persons authorized by law to provide the services. See South Carolina Code 40-37-20
Optical supplies: include , but are not limited to, contact lenses, ophthalmic lenses, ophthalmic frames;

(5) "Basic certified optometrist" means an optometrist without education or training in the use of pharmaceutical agents and licensed to practice optometry without the use of pharmaceutical agents;

(6) "Diagnostic certified optometrist" means an optometrist educated and trained in the use of pharmaceutical agents for diagnostic purposes only and licensed to practice optometry in conjunction with the use of pharmaceutical agents for diagnostic purposes only;

(7) "Therapeutic certified optometrist" means an optometrist educated and trained in the use of pharmacological agents for diagnostic and therapeutic purposes and licensed to practice optometry with the use of pharmacological agents for diagnostic and therapeutic purposes. See South Carolina Code 40-37-20
Optician: means one who prepares and dispenses lenses, spectacles, eyeglasses, and appurtenances to the intended wearers on prescriptions from licensed physicians or optometrists and in accordance with these prescriptions, mechanically interprets, measures, adapts, fits, and adjusts lenses, spectacles, eyeglasses, and appurtenances to the human face for the aid or correction of visual or ocular anomalies of the human eye;

(2) "Apprentice" means a qualified person registered by the board who is working under the supervision of a licensed optician, optometrist, or ophthalmologist and who is being trained in the practice of opticianry;

(3) "Board" means the South Carolina Board of Examiners in Opticianry; and

(4) "Direct supervision" means, with regard to a supervisee, the licensed optician must be on the premises at all times. See South Carolina Code 40-38-20
Option: includes an insurance futures option. See South Carolina Code 38-12-30
Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.
Otolaryngologist: means a licensed physician specializing in ear, nose, and throat. See South Carolina Code 40-25-20
Outer burial container: means the following:

(a) Category I-Protective Outer Burial Container-An outer burial container (vault) in which a casket or similar burial device is placed for in-ground interment and is designed and constructed to support the weight of the earth and standard cemetery maintenance equipment and to prevent the grave from collapsing while resisting the entrance of water or any other element found in the soil in which it is interred. See South Carolina Code 40-8-30
Over-the-counter derivative instrument: means a derivative instrument entered into with a counterparty other than through a qualified exchange or futures exchange or cleared through a qualified clearinghouse. See South Carolina Code 38-12-30
Oversight: Committee review of the activities of a Federal agency or program.
Owner: means a sole proprietor, partnership, limited partnership, corporation, limited liability corporation, or any business entity possessing authority and control over a funeral establishment. See South Carolina Code 40-19-20
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.
Payment instrument: means a check, draft, money order, traveler's check, or other instrument for the transmission or payment of money or monetary value, whether or not negotiable. See South Carolina Code 35-11-105
Perpetual care: means the maintenance and the reasonable administration of the cemetery grounds and buildings in keeping with a cemetery properly maintained using a care and maintenance trust fund. See South Carolina Code 40-8-30
Person: means a corporation, agency, partnership, association, voluntary organization, individual, or another entity, organization, or aggregation of individuals. See South Carolina Code 38-1-20
Person: means an individual, entity, corporation, partnership, joint venture, or association. See South Carolina Code 40-8-30
Person: means an individual human being, firm, partnership, or corporation. See South Carolina Code 40-22-20
Person: means an individual, partnership, copartnership, cooperative, firm, company, public or private corporation, political subdivision, government agency, trust, estate, joint structure company, or any other legal entity or its legal representative, agent, or assigns. See South Carolina Code 40-23-20
Person: means an individual, natural person, firm, partnership, association, corporation, legal representative, or other recognized legal entity. See South Carolina Code 40-29-20
Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity. See South Carolina Code 35-1-102
Person: means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation, or another legal or commercial entity. See South Carolina Code 35-11-105
Person: means an individual, a business entity, a multilateral development bank, or a government or quasi-governmental body, such as a political subdivision or a government sponsored enterprise. See South Carolina Code 38-12-30
Personal property: All property that is not real property.
Plaintiff: The person who files the complaint in a civil lawsuit.
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.
Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
Policy: means a contract of insurance. See South Carolina Code 38-1-20
Policyholder obligations: means those liabilities of the insurer to or for its policyholders arising out of its policies and to its creditors and includes the liabilities required to be included in the insurer's annual statement including, but not limited to, the unearned premium reserve, reserves required by applicable mortality or morbidity tables, and claim or loss reserves including incurred but not reported claims. See South Carolina Code 38-12-30
Potential exposure: means :

(a) the amount of initial margin required for a futures position; or

(b) as to swaps, collars, and forwards, one-half of one percent times the notional amount times the square root of the remaining years to maturity. See South Carolina Code 38-12-30
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}
Practical experience in nursing home administration: means full-time employment, with a minimum of thirty-six hours each week, under the on-site supervision by a licensed nursing home administrator in a state-licensed nursing home. See South Carolina Code 40-35-20
Practice of barbering: means any one or a combination of:

(a) shaving or trimming a beard, cutting the hair, or hairstyling;

(b) giving facial or scalp massages or treatments with oils, creams, lotions, or other preparations, either by hand or mechanical appliances;

(c) singeing, shampooing, or dyeing the hair or applying hair tonics or chemicals to wave, relax, straighten, or bleach the hair;

(d) applying cosmetic preparations, antiseptics, powders, oils, clays, and lotions to the scalp, neck, or face;

(e) cutting, shaping, fitting, styling, and servicing hair pieces, toupees, and wigs. See South Carolina Code 40-7-20
Practice of engineering: means any service or creative work, the adequate performance of which requires engineering education, training, and experience in the application of special knowledge of the mathematical, physical, and engineering sciences to such services or creative work as commissioning, consultation, investigation, expert technical testimony, evaluation, design and design coordination of engineering works and systems, design for development and use of land and water, performing engineering surveys and studies, and the review of construction for the purpose of monitoring compliance with drawings and specifications, any of which embraces such services or work, either public or private, in connection with any utilities, structures, buildings, machines, equipment, processes, work systems projects, and industrial or consumer products or equipment of control systems, chemical, communications, mechanical, electrical, environmental, hydraulic, pneumatic, or thermal nature, insofar as they involve safeguarding life, health, or property, and including such other professional services as may be necessary to the planning, progress, and completion of any engineering services. See South Carolina Code 40-22-20
Practice of funeral service: means :

(a) engaging in providing shelter, care, and custody of the human dead;

(b) the practice of preparing the human dead by embalming or other methods for burial or other disposition;

(c) arranging for the transportation of the human dead;

(d) making arrangements at or before the time of death, financial or otherwise, including arrangements for cremation, for providing these services, or the sale of funeral merchandise, whether for present or future use; provided, that no funeral director, embalmer, funeral company, cemetery, or related entity shall charge a fee for the assignment to the funeral director, embalmer, funeral company, cemetery, or related entity of an insurance policy providing burial expenses, excluding preneed contracts as provided in § 32-7-35; and

(e) engaging in the practice or performing any functions of funeral directing or embalming as presently recognized by persons engaged in these functions. See South Carolina Code 40-19-20
Practice of specializing in hearing aids: means the measurement of human hearing by an audiometer and by other established means solely for fitting, making selections, adaptations, or sale of hearing aids. See South Carolina Code 40-25-20
Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
Predecessor chapter: means Chapter 1 of Title 35 of the South Carolina Code of Laws, 1976, prior to its amendment by the adoption of the South Carolina Uniform Securities Act of 2005. See South Carolina Code 35-1-102
Preferred stock: means preferred, preference, or guaranteed stock of a business entity authorized to issue the stock, that has a preference in liquidation over the common stock of the business entity. See South Carolina Code 38-12-30
Premium: means payment given in consideration of a contract of insurance. See South Carolina Code 38-1-20
Premiums: means premiums, rates, dues, or other required contributions, by whatever name known, which are payable under the certificate. See South Carolina Code 38-38-40
Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
Price amendment: means the amendment to a registration statement filed under the Securities Act of 1933 or, if an amendment is not filed, the prospectus or prospectus supplement filed under the Securities Act of 1933 that includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price. See South Carolina Code 35-1-102
Private investigation business: means engaging in business or accepting employment to obtain or furnish information with reference to the:

(1) identity, habits, conduct, business, occupation, honesty, integrity, credibility, knowledge, trustworthiness, efficiency, loyalty, activity, movement, whereabouts, affiliations, associations, transactions, acts, reputation, or character of a person;

(2) location, disposition, or recovery of lost or stolen property;

(3) cause or responsibility for fires, libels, losses, accidents, damage, or injury to persons or property; or

(4) securing of evidence to be used in a criminal or civil proceeding, or before a board, an administrative agency, an officer, or investigating committee. See South Carolina Code 40-18-20
Probable cause: A reasonable ground for belief that the offender violated a specific law.
Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
producer: means a person who represents an insurance company and is required to be licensed pursuant to § 38-43-10. See South Carolina Code 38-1-20
Professional engineer: means a license holder who, by reason of his special knowledge of the mathematical and physical sciences and the principles and methods of engineering analysis and design, acquired by professional education and practical experience, is qualified to practice engineering as defined in this section as attested by his license and registration as a professional engineer in this State. See South Carolina Code 40-22-20
Professional surveyor: means a licensee who is qualified to practice any discipline of TIER A or TIER B surveying in this State, as defined in this section and as attested by his license and registration as a TIER A or TIER B professional surveyor in this State. See South Carolina Code 40-22-20
Property insurance: means each insurance against direct or indirect loss of or damage to a property resulting from fire, smoke, weather disturbances, climatic conditions, earthquake, volcanic eruption, rising waters, insects, blight, animals, war damage, riot, civil commotion, destruction by order of civil authority to prevent spread of conflagration or for other reason, water damage, vandalism, glass breakage, explosion of a water system, collision, theft of automobiles, and personal effects in them (but no other forms of theft insurance), loss of or damage to domestic or wild animals, and any other perils to property which in the discretion of the director or his designee form proper subjects of property insurance, if not specified in items (1), (7), (11), (35), (40), (54), or (59) of this section. See South Carolina Code 38-1-20
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
public record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See South Carolina Code 35-1-102
Public wastewater treatment plant: means that portion of any system that treats domestic or industrial waste and that alters physical, chemical, or bacteriological characteristics before placing the waste into any receiving waters. See South Carolina Code 40-23-20
Public water distribution system: means that portion of a public water system that is utilized for the delivery of water for human consumption, whether bottled, piped, or delivered through some other constructed conveyance, up to the point of consumer or owner connection. See South Carolina Code 40-23-20
Public water system: means :

(a) any publicly or privately owned waterworks system which provides water, whether bottled, piped, or delivered through some other constructed conveyance, for human consumption, including the source of supply whether the source of supply is of surface or subsurface origin;

(b) all structures and appurtenances used for the collection, treatment, storage, or distribution of water delivered to point of meter of consumer or owner connection;

(c) any part or portion of the system, including any water treatment facility, which in any way alters the physical, chemical, radiological, or bacteriological characteristics of the water; however, a public water system does not include a water system serving a single private residence or dwelling. See South Carolina Code 40-23-20
Qualified bank: means :

(a) a national bank, state-chartered bank, or trust company that is at all times capitalized adequately as determined by standards adopted by United States banking regulators and that is either regulated by state banking laws or is a member of the Federal Reserve System; or

(b) a bank or trust company incorporated or organized pursuant to the laws of a country other than the United States that is regulated as a bank or trust company by that country's government or an agency of it and that is at all times capitalized adequately as determined by the standards adopted by international banking authorities. See South Carolina Code 38-12-30
Qualified business entity: means a business entity that is:

(a) an issuer of obligations or preferred stock that are rated 1 or 2 by the SVO or an issuer of obligations, preferred stock, or derivative instruments that are rated the equivalent of 1 or 2 by the SVO or by a nationally recognized statistical rating organization recognized by the SVO;

(b) a primary dealer in United States government securities, that is recognized by the Federal Reserve Bank of New York; or

(c) with respect to investment practices under § 38-12-280, an affiliate of an entity that is a qualified business entity pursuant to this item, provided that the affiliate's obligation pursuant to its agreement with the insurer are guaranteed by a qualified business entity that meets the requirements of subitem (a) or (b). See South Carolina Code 38-12-30
Qualified clearinghouse: means a clearinghouse subject to the rules of a qualified exchange or a qualified foreign exchange that provides clearing services, including acting as a counterparty to each of the parties to a transaction so that the parties no longer have credit risk to each other. See South Carolina Code 38-12-30
Qualified exchange: means :

(a) a securities exchange registered as a national securities exchange, or a securities market regulated pursuant to the Securities Exchange Act of 1934 (15 U. See South Carolina Code 38-12-30
Qualified foreign exchange: means a foreign exchange, board of trade, or contract market located outside the United States, its territories, or possessions:

(a) that has received regulatory comparability relief pursuant to CFTC Rule 30. See South Carolina Code 38-12-30
Qualified individual: means any agent, broker-dealer, investment adviser representative, investment adviser, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser. See South Carolina Code 35-1-800
Qualified intellectual disability professional: means a person who, by training and experience, meets the requirements of applicable federal law and regulations for a qualified intellectual disability professional, as determined by the Department of Disabilities and Special Needs. See South Carolina Code 40-35-20
Qualified primary credit source: means the credit source to which an insurer looks for payment as to an investment and against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action may be brought in a domestic jurisdiction. See South Carolina Code 38-12-30
Quorum: The number of legislators that must be present to do business.
Rated credit instrument: means an obligation or other instrument that gives its holder a contractual right to receive cash or another rated credit instrument from another entity, and that:

(i) is rated by the SVO or a nationally recognized statistical rating organization recognized by the SVO;

(ii) is issued, guaranteed, or insured by an entity that is rated by, or another obligation or other instrument of such entity is rated by, the SVO or a nationally recognized statistical rating organization recognized by the SVO, in the case of an obligation or other instrument with a maturity of three hundred ninety-seven days or less;

(iii) has been issued, assumed, accepted, guaranteed, or insured by a qualified bank, in the case of an obligation or other instrument with a maturity of ninety days or less;

(iv) is a share of a class one bond mutual fund; or

(v) is a share of a money market mutual fund. See South Carolina Code 38-12-30
real estate: includes the leasehold estate only if it has an unexpired term, including renewal options exercisable at the option of the lessee, extending beyond the scheduled maturity date of the obligation that is secured by a mortgage on the leasehold estate by a period equal to at least twenty percent of the original term of the obligation or ten years, whichever is greater. See South Carolina Code 38-12-30
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See South Carolina Code 35-11-105
Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
Registered: means the engineer or surveyor is licensed and registered in the State. See South Carolina Code 40-22-20
Regroovable tire: means a tire, either original tread or retread, designed and constructed with sufficient tread material to permit renewal of the tread pattern or the generation of a new tread pattern in a manner which conforms to this chapter. See South Carolina Code 39-75-10
Regrooved tire: means a tire, either original tread or retread, on which the tread pattern has been renewed or a new tread has been produced by cutting into the tread of a worn tire to a depth equal to or deeper than the molded original groove depth. See South Carolina Code 39-75-10
Related field: means architecture, civil engineering, horticulture, or other field as determined appropriate by the board. See South Carolina Code 40-28-20
Related health care administration: means the administration of a facility that provides direct nursing care on a twenty-four hour basis to persons who require health services because of illness, age, or chronic disability. See South Carolina Code 40-35-20
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.
remains: means the body of a deceased person and includes the body in any stage of decomposition. See South Carolina Code 40-8-30
Remediation: means the correction, repair, restoration, or any other action taken in order to bring any condition or circumstance into compliance with a statute, standard, or regulation. See South Carolina Code 40-23-20
Replication transaction: means a derivative transaction or combination of derivative transactions that is entered into separately or in conjunction with other permissible investments held or acquired by the insurer in order to replicate the investment characteristics of otherwise permissible investments or operate as a substitute for cash market transactions, or for both reasons. See South Carolina Code 38-12-30
Repurchase transaction: means a transaction in which an insurer purchases securities from a counterparty that is obligated to repurchase the purchased securities or equivalent securities from the insurer at a specified price, within a specified period of time or upon demand. See South Carolina Code 38-12-30
Required liabilities: means total liabilities required to be reported on the statutory financial statement of the insurer most recently required to be filed with the director. See South Carolina Code 38-12-30
Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
residency training program: means a clinical program of an approved college of chiropractic in which a chiropractic intern or resident practices chiropractic under the direct supervision of a licensed chiropractor. See South Carolina Code 40-9-10
resident domestic corporation: means a domestic corporation that has a class of voting shares registered with the Securities and Exchange Commission or another federal agency under Section 12 of the 1934 Exchange Act. See South Carolina Code 35-2-213
Residential mortgage loan: means a loan primarily secured by a mortgage on real estate improved with a one-to-four family residence. See South Carolina Code 38-12-30
responsible charge: means that there is a clear-cut personal connection to the project or employee supervised, marked by firsthand knowledge and direct control and assumption of professional responsibility for the work. See South Carolina Code 40-22-20
Responsible charge: means direct control and personal supervision of landscape architecture. See South Carolina Code 40-28-20
Responsible individual: means an individual who is employed by a licensee and has principal managerial authority over the provision of money services by the licensee in this State. See South Carolina Code 35-11-105
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Retail sales outlet: means an establishment wherein funeral merchandise is sold or provided, or both, to the general public. See South Carolina Code 40-19-20
Retired from active practice: means not engaging or offering to engage in the practice of engineering or surveying as defined in this section. See South Carolina Code 40-22-20
Reverse repurchase transaction: means a transaction in which an insurer sells securities to a qualified bank or a qualified business entity or a bank or a business entity whose obligations with respect to the transaction are guaranteed by a qualified bank or a qualified business entity and the insurer is obligated to repurchase the sold securities or equivalent securities from the bank or business entity at a specified price, within a specified period of time or upon demand. See South Carolina Code 38-12-30
Rock well: means an opening into the ground, which qualifies as a "well" of Type I construction as defined in this section, that is made by boring, drilling, jetting, driving, direct push technology, or any other method into consolidated materials, and that does not qualify as an environmental well. See South Carolina Code 40-23-20
Rules: means all rules, regulations, or resolutions adopted by the supreme governing body or board of directors which are intended to have general application to the members of the society. See South Carolina Code 38-38-40
SAA: means the agency of the State which has been approved to carry out the state plan and to enforce the National Manufactured Housing Construction and Safety Standards Act within South Carolina. See South Carolina Code 40-29-20
Safe Drinking Water Act: means Article 1, Chapter 55 of Title 44. See South Carolina Code 40-23-20
sale: means the transfer of title or of the right to use by lease, bailment, or other contract, excluding wholesale transactions with distributors or specialists. See South Carolina Code 40-25-20
sale: include lease-purchase transactions. See South Carolina Code 40-29-20
Sale: includes every contract of sale, contract to sell, or disposition of, a security or interest in a security for value, and "offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value. See South Carolina Code 35-1-102
salon: means a building or any place, or part of a place or building including, but not limited to, a rental booth, in which cosmetology is performed on the general public for compensation. See South Carolina Code 40-13-20
school: means a place or part of a place in which cosmetology or any of its practices are taught. See South Carolina Code 40-13-20
Secretary: means the Secretary of Housing and Urban Development (HUD). See South Carolina Code 40-29-20
Secured location: means the contiguous real estate owned by one person. See South Carolina Code 38-12-30
Securities and Exchange Commission: means the United States Securities and Exchange Commission. See South Carolina Code 35-1-102
Securities Commissioner: means the Attorney General. See South Carolina Code 35-1-102
Securities lending transaction: means a transaction in which securities are loaned by an insurer or its custodian bank or agent to a qualified bank or a qualified business entity or a bank or a business entity whose obligations with respect to the transaction are guaranteed by a qualified bank or a qualified business entity that is obligated to return the loaned securities or equivalent securities to the insurer, its custodian bank, or agent, within a specified period of time or upon demand. See South Carolina Code 38-12-30
Security: means any note; stock; treasury stock; security future; bond; debenture; evidence of indebtedness; certificate of interest or participation in a profit-sharing agreement; collateral trust certificate; preorganization certificate or subscription; transferable share; investment contract; voting trust certificate; certificate of deposit for a security; fractional undivided interest in oil, gas, or other mineral rights; put, call, straddle, option, or privilege on a security, certificate of deposit, or group or index of securities, including an interest therein or based on the value thereof; put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency; or, in general, an interest or instrument commonly known as a "security"; or a certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See South Carolina Code 35-1-102
Security business: means the provision of personnel whose duties include watching over, protecting, or defending people or property against intrusion, damage, injury, or loss, and specifically includes, but is not limited to, the following authorities or responsibilities: to allow or refuse access to property or certain areas of property; detect, prevent, or report entry by unauthorized persons; observe for and react to hazards or hazardous situations; observe for and react to violations of law or policy; observe for and react to emergencies; observe for and react to thefts or other incidents; apprehend or report intruders or trespassers; and maintain order or discipline. See South Carolina Code 40-18-20
Security officer: means a person who provides security service by performing any security function, as detailed in this chapter. See South Carolina Code 40-18-20
Self-regulatory organization: means a national securities exchange registered under the Securities Exchange Act of 1934, a national securities association of broker-dealers registered under the Securities Exchange Act of 1934, a clearing agency registered under the Securities Exchange Act of 1934, or the Municipal Securities Rulemaking Board established under the Securities Exchange Act of 1934. See South Carolina Code 35-1-102
Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See South Carolina Code 38-1-20
Series company: means an investment company that is organized as a series company, as defined in Rule 18f-2(a) adopted under the Investment Company Act of 1940 (15 U. See South Carolina Code 38-12-30
Service of process: The service of writs or summonses to the appropriate party.
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.
share: means :

(1) any share or similar security, any certificate of interest, and participation in any profit sharing agreement, any voting trust certificate, or any certificate of deposit for a share; and

(2) any security convertible, with or without consideration, into shares, or any warrant, call, or other option or privilege of buying shares without being bound to do so, or any other security carrying any right to acquire, subscribe to, or purchase shares. See South Carolina Code 35-2-214
Shell business entity: means a business entity having no economic substance, except as a vehicle for owning interests in assets issued, owned, or previously owned by a person domiciled in a foreign jurisdiction. See South Carolina Code 38-12-30
Sinking fund stock: means preferred stock that:

(a) is subject to a mandatory sinking fund or similar arrangement that provides for the redemption, or open market purchase, of the entire issue over a period not longer than forty years from the date of acquisition; and

(b) provides for mandatory sinking fund installments, or open market purchases, commencing not more than ten and one-half years from the date of issue, with the sinking fund installments providing for the purchase or redemption, on a cumulative basis commencing ten years from the date of issue, of at least two and one-half percent each year of the original number of shares of that issue of preferred stock. See South Carolina Code 38-12-30
SLED: means the South Carolina Law Enforcement Division. See South Carolina Code 40-18-20
Society: means fraternal benefit society, unless otherwise indicated. See South Carolina Code 38-38-40
Sole practitioner establishment: means a licensed massage therapist who is licensed pursuant to this chapter, who is not an employee or contractor of the sole practitioner establishment, and who provides massage therapy to clients at a specific location including, but not limited to, a rental space, home office space, or outcall or onsite space. See South Carolina Code 40-30-30
Solicit: means attempting to sell insurance or asking or urging a person to apply for a particular kind of insurance from a particular company. See South Carolina Code 38-1-20
Special rated credit instrument: means a rated credit instrument that is:

(1) an instrument that is structured so that, if it is held until retired by or on behalf of the issuer, its rate of return based on its purchase cost and any cash flow stream possible under the structure of the transaction may become negative due to reasons other than the credit risk associated with the issuer of the instrument. See South Carolina Code 38-12-30
Sponsor: means a person who is financially or legally responsible for an individual currently residing in a nursing home or residential care facility. See South Carolina Code 40-35-20
Standard: means the appropriate standards adopted by the State of South Carolina and established by the Department of Housing and Urban Development pursuant to the Federal Manufactured Housing Construction and Safety Standards. See South Carolina Code 40-29-20
State: means a State of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See South Carolina Code 35-1-102
State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or a territory or insular possession subject to the jurisdiction of the United States. See South Carolina Code 35-11-105
State: means a state, territory, or possession of the United States of America, the District of Columbia, or the Commonwealth of Puerto Rico. See South Carolina Code 38-12-30
Statute: A law passed by a legislature.
Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Stored value: means monetary value that is evidenced by an electronic record. See South Carolina Code 35-11-105
Student: means a person who is engaged in learning or acquiring the practices of cosmetology and, while learning, performs or assists in any of the practices of cosmetology in a school licensed under this chapter and under the instruction or immediate supervision of an instructor licensed under this chapter. See South Carolina Code 40-13-20
Subpoena: A command to a witness to appear and give testimony.
Substantially similar securities: means securities that meet all criteria for substantially similar securities specified in the NAIC accounting manual, and in an amount that constitutes good delivery form as determined by "The Bond Market Association". See South Carolina Code 38-12-30
Summons: Another word for subpoena used by the criminal justice system.
Surety: includes insurance or a bond that covers obligations to pay the debts, or answer for the default, of another, including faithlessness in a position of public or private trust. See South Carolina Code 38-1-20
Surplus lines insurance: means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker, or a licensed broker as provided in § 38-45-10(8)(b)(ii), with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. See South Carolina Code 38-1-20
Surveyor-in-training: means a person who has qualified for and passed the NCEES Fundamentals of Surveying examination as provided in this chapter and is entitled to receive a certificate as a surveyor-in-training. See South Carolina Code 40-22-20
SVO: means the Securities Valuation Office of the NAIC or any successor office established by the NAIC. See South Carolina Code 38-12-30
SVO procedures manual: means the "Purposes and Procedures of the Securities Valuation Office" as amended, or any successor publication. See South Carolina Code 38-12-30
Swap: means an agreement to exchange or to net payments at one or more times based on the actual or expected price, yield, level, performance or value of one or more underlying interests. See South Carolina Code 38-12-30
Temporary permit: means a permit issued while the applicant is in training to become a licensed hearing aid specialist. See South Carolina Code 40-25-20
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.
Terminate: means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance. See South Carolina Code 38-1-20
Testify: Answer questions in court.
Testimony: Evidence presented orally by witnesses during trials or before grand juries.
Thermal therapy: means the use of ice or a heat lamp or moist heat on superficial tissues. See South Carolina Code 40-30-30
Title insurance: means insurance of the owners of real property and other persons lawfully interested in the title insurance against loss by reason of defective titles and undisclosed liens and encumbrances affecting the property. See South Carolina Code 38-1-20
Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
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.
Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
Trust institution: means a state or national bank, state or federal savings and loan association, or trust company authorized to act in a fiduciary capacity in this State. See South Carolina Code 40-8-30
Trustee: A person or institution holding and administering property in trust.
Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
under common control with: means the possession (directly or indirectly) of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. See South Carolina Code 35-2-208
Underlying interest: means the assets, liabilities, or other interests, or a combination of them, underlying a derivative instrument such as any one or more securities, currencies, rates, indices, commodities, or derivative instruments that are or relate to investments or investment practices that an insurer is permitted to acquire or engage in pursuant to this chapter. See South Carolina Code 38-12-30
Uniform: means clothing displaying a badge, emblem, insignia, indicia, or print identifying the wearer as a security officer. See South Carolina Code 40-18-20
Uniform application: means the current version of the National Association of Insurance Commissioners Uniform Application for resident and nonresident producer licensing. See South Carolina Code 38-1-20
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
Unrestricted surplus: means the amount by which total admitted assets exceed one hundred twenty-five percent of the insurer's required liabilities. See South Carolina Code 38-12-30
Unsafe or unsound practice: means a practice or conduct by a person licensed to engage in money transmission or an authorized delegate of such a person, which creates the likelihood of material loss, insolvency, or dissipation of the licensee's assets, or otherwise materially prejudices the interests of its customers. See South Carolina Code 35-11-105
Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
Venue: The geographical location in which a case is tried.
Verdict: The decision of a petit jury or a judge.
voting shares: means shares of capital stock of a corporation entitled to vote generally in the election of directors. See South Carolina Code 35-2-217
Warrant: means an instrument that gives the holder the right to purchase an underlying financial instrument at a given price and time or at a series of prices and times outlined in the warrant agreement. See South Carolina Code 38-12-30
Website: means a set of related web pages served from a single web domain. See South Carolina Code 39-77-20
Well: means a manmade horizontal, vertical, or angled opening in the ground made by digging, boring, drilling, jetting, driving, direct push technology, or any other method through which water is injected or withdrawn from beneath the surface of the earth for the purpose of human consumption, irrigation, industrial or commercial processes, or construction of closed loop systems. See South Carolina Code 40-23-20
Well drilling category: means the taxonomy of well drilling licenses according to the type of well a licensee is authorized to construct including, but not limited to, environmental wells, coastal wells, rock wells, and bored wells. See South Carolina Code 40-23-20
Writ: A formal written command, issued from the court, requiring the performance of a specific act.

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South Carolina Code > Title 3 > Chapter 3 – Specific Grants or Cessions of Jurisdiction to United States

Terms Used In South Carolina Code > Title 3 > Chapter 3 - Specific Grants or Cessions of Jurisdiction to United States

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