South Carolina Code > Title 59 > Chapter 107 – State Institution Bonds
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Terms Used In South Carolina Code > Title 59 > Chapter 107 - State Institution Bonds
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Department: means the South Carolina Department of Natural Resources unless otherwise stated. See South Carolina Code 50-5-15
- 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.
- Fish: means finfish, shellfish including mollusks, crustaceans, horseshoe crabs, whelks (conchs), turtles, and terrapin or products thereof. See South Carolina Code 50-5-15
- 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
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- 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
- 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.
- Operator: means the person who operates or has charge or command of the navigation or use of a vessel or watercraft. See South Carolina Code 50-21-10
- Owner: means a person, other than a lienholder, who claims lawful possession of a vessel or outboard motor by virtue of legal title or equitable interest in it which entitled him to possession. See South Carolina Code 50-21-10
- Person: means an individual, a partnership, a firm, a corporation, an association, or other legal entity. See South Carolina Code 50-21-10
- Trap: is a n enclosed device used for taking fish, constructed to facilitate entry but prohibit or restrict exit of fish and is also called "pot". See South Carolina Code 50-5-15
- Use: means operate, navigate, or employ. See South Carolina Code 50-21-10