Terms Used In Vermont Statutes > Title 11 > Chapter 4 - Professional Corporations

• 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.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• 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.
• Annual meeting: when applied to towns shall mean the annual town meeting in March or an adjournment thereof. See
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Arrest: Taking physical custody of a person by lawful authority.
• articles: include amended and restated articles of incorporation and articles of merger. See
• Articles of incorporation: include amended and restated articles of incorporation, articles of merger, and special charters. See
• Articles of organization: means the articles of organization of a mutual benefit enterprise required by section 302 of this title. See
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Benefit corporation: means a corporation as defined in section 1. See
• Benefit director: means :

• benefit enforcement proceeding: means a claim or action against a director or officer for:

• Benefit officer: means the officer of a benefit corporation, if any, designated as the benefit officer as provided in section 21. See
• Bequest: Property gifted by will.
• Board of directors: means the board of directors of a mutual benefit enterprise. See
• board of directors: means the board of directors except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to section 8. See
• Bylaws: means the bylaws of a mutual benefit enterprise. See
• Bylaws: means the code or codes of rules (other than the articles) adopted pursuant to this title for the regulation or management of the affairs of the corporation, stored or depicted in any tangible or electronic medium, and irrespective of the name or names by which such rules are designated. See
• Certificate of authority: means a certificate issued by the Secretary of State for a foreign enterprise to transact business in this State. See
• Class: refers to a group of memberships which have the same rights with respect to voting, dissolution, redemption, and transfer. See
• Collective account: means an internal capital account that represents the portion of the net book value of the corporation attributable to the cooperative. See
• Commercial hauler: means any person that transports:

• 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.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Constituent corporation: means a constituent organization that is a corporation. See
• Constituent organization: means an organization that is a party to a conversion, merger, share exchange, or domestication pursuant to this chapter. See
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conversion: means a change in character of residential real property from a rental to an ownership basis. See
• Conversion: means a transaction authorized by sections 11. See
• Converted organization: means the converting organization as it continues in existence after a conversion. See
• Converting organization: means the domestic organization that approves a plan of conversion pursuant to section 11. See
• Conviction: A judgement of guilt against a criminal defendant.
• Cooperative: means an entity organized under any cooperative law of any jurisdiction. See
• Cooperative housing corporation: means a domestic corporation which has elected to be governed by the provisions of this chapter. See
• Cooperative interest: means the ownership interest in a cooperative housing corporation which is evidenced by a membership share. See
• Cooperative property: means all the real and personal property, including mobile and manufactured homes, in this state owned or leased by a cooperative housing corporation for the primary purpose of residential use. See
• 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 public benefit and mutual benefit corporation. See
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Critical infrastructure: means property and equipment owned or used by communications networks and electric generation, transmission, and distribution systems; water and wastewater systems; health systems; essential supply chains; thermal fuels and systems; and communications networks, including cellular, broadband, and telecommunications networks. See
• 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.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Dependent: A person dependent for support upon another.
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Designated office: means the office that a mutual benefit enterprise or a foreign enterprise is required to designate and maintain under subdivision 117(a)(1) of this title. See
• Devise: To gift property by will.
• Director: means a director of a mutual benefit enterprise. See
• Directors: means individuals, designated in the articles or bylaws or elected by the incorporators, and their successors and individuals elected or appointed by any other name or title to act as members of the board. See
• Disaster response period: means a period that begins 10 days prior to the first day of the Governor's proclamation, the President's declaration, or designation by another authorized official of the State as set forth in this chapter, whichever occurs first, and that extends 60 calendar days after the declared State disaster or emergency. See
• Disaster- or emergency-related work: means repairing, renovating, installing, building, rendering services, or other nonretail business activities in areas of the State affected by the declared State disaster or emergency that relate to critical infrastructure that has been damaged, impaired, or destroyed by the declared State disaster or emergency. See
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Disposal: means the discharge, deposit, injection, dumping, spilling, leaking, emitting, or placing of any solid waste or hazardous waste into or on any land or water so that such solid waste or hazardous waste or any constituent thereof may enter the environment or be emitted into the air or discharged into any ground or surface waters. See
• Distribution: means a direct or indirect transfer of money or other property (except its own shares) or incurrence of indebtedness by a corporation to or for the benefit of its shareholders in respect of any of its shares. See
• Distribution: means the payment of a dividend or any part of the income or profit of a corporation to its members, directors, or officers. See
• Docket: A log containing brief entries of court proceedings.
• Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
• domestic corporation: means a corporation for profit, which is not a foreign corporation, incorporated under or subject to the provisions of this title. See
• Domestic corporation: means a corporation. See
• Domestic organization: means an organization whose internal affairs are governed by the law of this State. See
• Domesticated corporation: means the corporation that exists after a domesticating corporation effects a domestication pursuant to sections 11. See
• Domesticating corporation: means the corporation that effects a domestication pursuant to sections 11. See
• Domestication: means a transaction authorized by sections 11. See
• Economic poison: means :

• Employee: includes an officer but not a director. See
• Employee: includes an officer but not a director. See
• 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 person other than an individual. See
• Entity: includes corporation and foreign corporation; not-for-profit corporation; profit and not-for-profit unincorporated association; business trust, estate, partnership, trust, and two or more persons having a joint or common economic interest; and state, United States, and foreign government. See
• Entity: includes corporation and foreign corporation; business corporation and foreign business corporation; profit and nonprofit unincorporated association; business trust, estate, partnership, trust, and two or more persons having a joint or common economic interest; and state, United States; and foreign government. See
• 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}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Executor: A male person named in a will to carry out the decedent
• Facility: means all contiguous land, structures, other appurtenances, and improvements on the land, used for treating, storing, or disposing of waste. See
• 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.
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiduciary: A trustee, executor, or administrator.
• filing: means filed in the Office of the Secretary of State. See
• 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.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• 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 corporation: means a corporation for profit incorporated under a law other than the law of this State. See
• Foreign corporation: means a corporation organized under a law other than the law of this State which would be a nonprofit corporation if formed under the laws of this State. See
• Foreign enterprise: means an entity organized in a jurisdiction other than this State under a law similar to this title. See
• Fraud: Intentional deception resulting in injury to another.
• General public benefit: means a material positive impact on society and the environment, as measured by a third-party standard, through activities that promote some combination of specific public benefits. See
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing statute: means the statute that governs an organization's internal affairs. See
• Governmental subdivision: includes authority, county, district, and municipality. See
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Hazardous waste: means any waste or combination of wastes of a solid, liquid, contained gaseous, or semi-solid form, including those that are toxic, corrosive, ignitable, reactive, strong sensitizers, or that generate pressure through decomposition, heat, or other means, that in the judgment of the Secretary may cause or contribute to an increase in mortality or an increase in serious irreversible or incapacitating reversible illness, taking into account the toxicity of such waste, its persistence and degradability in nature, and its potential for assimilation, or concentration in tissue, and other factors that may otherwise cause or contribute to adverse acute or chronic effects on the health of persons or other living organisms, or any matter that may have an unusually destructive effect on water quality if discharged to ground or surface waters of the State. See
• Hazardous waste management: means the systematic and comprehensive management of the generation; storage; transport; treatment, including recycling and recovery; or disposal of hazardous waste materials. See
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• Implementation plan: means that plan that is adopted to be consistent with the State solid waste management plan. See
• 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: means that a person has no material relationship with a benefit corporation or any of its subsidiaries (other than the relationship of serving as the benefit director or benefit officer), either directly or as an owner or manager of an entity that has a material relationship with the benefit corporation or any of its subsidiaries. See
• Individual: includes the estate of an individual who is incompetent or deceased. See
• Individual: includes the estate of an individual who is incompetent. See
• inhabitants: shall mean the population of the political division referred to, as ascertained by the national census last completed before the time when such population is a material fact. See
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest holder: means :

• Internal capital account cooperative: means a worker cooperative governed in accordance with section 1090 of this chapter. See
• Internal capital accounts: means a system of accounts on the books of a worker cooperative that reflects the book value of the corporation. See
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Investor member: means a member that has made a contribution to a mutual benefit enterprise and:

• 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.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Juror: A person who is on the jury.
• Justice: when applied to a person, other than a Justice of the Supreme Court, shall mean a justice of the peace for the county for which he or she is elected or appointed. See
• 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}
• Legacy: A gift of property made by will.
• Lender: includes banks, the Vermont Housing Finance Agency, and other financial institutions. See
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Limited equity cooperative: means a cooperative housing corporation, organized in accordance with section 1598 of this title. See
• Limited equity formula: means a rule or method for determining the transfer value of a share in a limited equity cooperative. See
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Magistrate: shall mean any Supreme Court Justice, Superior judge, District judge, or Probate judge. See
• Meeting: means any structured communications conducted by participants in person or through the use of electronic or telecommunications medium permitting simultaneous or sequentially structured communications for the purpose of reaching a collective agreement. See
• Meeting: means any structured communications conducted by participants in person or through the use of an electronic or telecommunications medium permitting simultaneous or sequentially structured communications. See
• Member: means a person that is admitted as a patron member or investor member or both in a mutual benefit enterprise. See
• Member: means a person who has been accepted for membership in, and owns a membership share issued by, a worker cooperative. See
• Member: means a person who owns a cooperative interest, and who is entitled to voting rights as prescribed in section 1594 of this title. See
• Member: means (without regard to what a person is called in the articles or bylaws) any person or persons who on more than one occasion, pursuant to a provision of a corporation's articles or bylaws, have the right to vote for the election of a director or directors. See
• Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles, bylaws, and this title. See
• Membership fee: means the consideration paid for a membership share. See
• Membership share: means a share of voting stock issued to each member of a worker cooperative as evidence of membership. See
• Merger: means a merger authorized by sections 11. See
• Moderate income: means less than or equal to 100 percent of median income for the area, adjusted for family size, in accordance with standards generally accepted at the time of incorporation and comparable to standards of the U. See
• Month: shall mean a calendar month and "year" shall mean a calendar year and be equivalent to the expression "year of our Lord. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Municipal solid waste: means combined household, commercial, and industrial waste materials generated in a given area. See
• Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
• Mutual Assistance Agreement: means an agreement to which one or more registered businesses and one or more out-of-state businesses are party and pursuant to which an electric or telephone utility may request and receive assistance from an out-of-state business for performance of disaster- or emergency-related work by the out-of-state business during the disaster response period. See
• Mutual benefit corporation: means a domestic corporation which is required to be a mutual benefit corporation pursuant to section 17. See
• Mutual benefit enterprise: means an enterprise organized under this title. See
• Oath: A promise to tell the truth.
• Oath: shall include affirmation where by law an affirmation may be substituted. See
• 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.
• Organic law: means the statute providing for the creation of an entity or principally governing its internal affairs. See
• Organic rules: means the articles of organization and bylaws of a mutual benefit enterprise. See
• Organization:

• Organizational documents: means the organizational documents for a domestic or foreign organization that create the organization, govern the internal affairs of the organization, and govern relations between or among its interest holders, including:

• Organizer: means an individual who signs the initial articles of organization. See
• Out-of-state business: means a business entity that, except for disaster- or emergency-related work, has no presence in the State and conducts no business in the State whose services are requested pursuant to a Mutual Assistance Agreement by a registered business or by a State or local government for purposes of performing disaster- or emergency-related work on critical infrastructure in the State. See
• Out-of-state employee: means an employee who does not work in the State, except for disaster- or emergency-related work during the disaster response period. See
• 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.
• Patron member: means a member that has made a contribution to a mutual benefit enterprise and:

• Patronage: means business transactions between a mutual benefit enterprise and a person that entitles the person to receive financial rights based on the value or quantity of business done between the enterprise and the person. See
• Patronage: means the amount of work performed as a member of a worker cooperative, measured in accordance with the articles of association or bylaws. See
• Person: means an individual; corporation; business trust; cooperative; estate; trust; partnership; limited partnership; limited liability company; mutual benefit enterprise; joint venture; association; public corporation; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See
• Person: means a natural person. See
• Person: includes individual and entity. See
• Person: includes any individual or entity. See
• Person: means any individual; partnership; company; corporation; association; unincorporated association; joint venture; trust; municipality; the State of Vermont or any agency, department, or subdivision of the State; federal agency; or any other legal or commercial entity. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Personal estate: shall include all property other than real estate. See
• Personal liability: means :

• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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.
• 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}
• 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.
• 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.
• Principal office: means the principal executive office of a mutual benefit enterprise or foreign enterprise, whether or not in this State. See
• Principal office: means the office (in or outside this State) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See
• Principal office: means the office (in or outside this State) so designated in the biennial report filed pursuant to section 16. See
• Private organizational documents: means organizational documents or portions thereof for a domestic or foreign organization that are not part of the organization's public record, if any, and includes:

• Probate: Proving a will
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See
• Proprietary lease: means an agreement with a cooperative housing corporation governing a member's right to occupancy, under which a member has an exclusive possessory interest in a unit. See
• Protected agreement: means :

• Psychiatric disability: means an impairment of thought, mood, perception, orientation, or memory that limits one or more major life activities but does not include intellectual disability. See
• Public benefit corporation: means a domestic corporation which is required to be a public benefit corporation pursuant to section 17. See
• Public organizational documents: means the record of organizational documents required to be filed with the Secretary of State to form an organization, and any amendment to or restatement of that record, and includes:

• Quorum: The number of legislators that must be present to do business.
• real estate: as used in this chapter shall mean such lands, tenements, rights, and estates as are made liable to execution by section 2781 of this title. See
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Regional plan: means that plan that is prepared and adopted in accordance with the provisions of 24 V. See
• registered business: means a business entity that is currently registered with the Secretary of State to do business in the State prior to the declared State disaster or emergency. See
• 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.
• Required information: means the information a mutual benefit enterprise is required to maintain under section 114 of this title. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• seal: shall include an impression of the official seal made upon paper alone or by means of a wafer or wax affixed thereto. See
• Secretary: means the corporate officer to whom the board of directors has delegated responsibility under subsection 8. See
• Secretary: means the corporate officer to whom the board of directors has delegated responsibility under subsection 8. See
• Secretary: means the Secretary of Natural Resources or his or her duly authorized representative. See
• Service of process: The service of writs or summonses to the appropriate party.
• Share exchange: means a share exchange authorized by sections 11. See
• Shareholder: means the person in whose name shares are registered in the records of a corporation or upon presentation for registration are entitled to be registered in the records of a corporation. See
• Sign: means with present intent to authenticate or adopt a record:

• Solid waste: means any discarded garbage; refuse; septage; sludge from a waste treatment plant, water supply plant, or pollution control facility; and other discarded material, including solid, liquid, semi-solid, or contained gaseous materials resulting from industrial, commercial, mining, or agricultural operations and from community activities but does not include animal manure and absorbent bedding used for soil enrichment; high carbon bulking agents used in composting; or solid or dissolved materials in industrial discharges that are point sources subject to permits under the Water Pollution Control Act, chapter 47 of this title. See
• Specific public benefit: includes :

• State: means a state of the United States, District of Columbia, Puerto Rico, the U. See
• State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
• 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.
• Storage: means the actual or intended containment of wastes, either on a temporary basis or for a period of years, in such a manner as not to constitute disposal of such wastes. See
• Subpoena: A command to a witness to appear and give testimony.
• Subscription agreement: means a written agreement between a prospective member and a cooperative housing corporation for the purchase and sale of a cooperative interest. See
• Summons: Another word for subpoena used by the criminal justice system.
• Surviving organization: means an organization into which one or more other organizations are merged whether the organization preexisted the merger or was created by the merger. See
• sworn: shall include affirmed. See
• Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Third-party standard: means a recognized standard for defining, reporting, and assessing corporate social and environmental performance that:

• 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.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Transfer: includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, and transfer by operation of law. See
• transportation: means the movement of wastes by air, rail, highway, or water. See
• Treatment: means any method, technique, or process, including neutralization, designed to change the physical, chemical, or biological character or composition of any hazardous or solid waste, so as to neutralize such waste, or so as to recover energy or material resources from the waste, or so as to render such waste safer for transport, amenable for recovery, amenable for storage, or reduced in volume, or for hazardous wastes, so as to render such waste nonhazardous. See
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• Unit: means a portion of the cooperative property leased for exclusive occupancy by a member under a proprietary lease, or leased to a tenant by lease agreement. See
• United States: includes district, authority, bureau, commission, department, and any other agency of the United States. See
• United States: includes district, authority, bureau, commission, department, and any other agency of the United States. See
• 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.
• Verdict: The decision of a petit jury or a judge.
• Village: shall mean an incorporated village. See
• Vote: includes authorization by written ballot and written consent. See
• Voting group: means any combination of one or more voting members in one or more districts or classes that under the organic rules or this title are entitled to vote and can be counted together collectively on a matter at a members' meeting. See
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or this title are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See
• Voting power: means the total current power of members to vote on a particular matter for which a vote may or is to be taken. See
• Voting power: means the total number of votes entitled to be cast for the election of directors at the time the determination of voting power is made, excluding a vote which is contingent upon the happening of a condition or event that has not occurred at the time. See
• Waste: means a material that is discarded or is being accumulated, stored, or physically, chemically, or biologically treated prior to being discarded or has served its original intended use and is normally discarded or is a manufacturing or mining by-product and is normally discarded. See
• Worker cooperative: means a corporation which has elected to be governed by this chapter. See
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.