Vermont Statutes > Title 3 > Chapter 16 – Vermont Employees’ Retirement System

		Sections
Subchapter 1	Generally	455 – 480a
Subchapter 2	Employees of Political Subdivisions	481 – 491
Subchapter 3	Transfers Between Retirement Systems	495

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Terms Used In Vermont Statutes > Title 3 > Chapter 16 - Vermont Employees' Retirement System

Account: means any one of the three accounts created under section 3613 of this title. See
Accumulated contributions: shall mean the sum of all the amounts deducted from the compensation of a member together with any amount transferred to the account of the member established pursuant to this system from the respective account of said member under one or both of the predecessor systems, with interest thereon, as provided in section 473 of this title. See
Active ingredient: means :
Actuarial equivalent: shall mean a benefit of equal value under the actuarial assumptions last adopted by the Retirement Board under subsection 472a(h) of this title. See
Admitted assets: means assets permitted to be reported as admitted assets on the annual statutory financial statement of the insurer for the next preceding year or as shown by a current financial statement. See
Advertise: means the publication or dissemination of an advertisement. See
Advertisement: means any method used to call attention to a product that is intended to arouse a desire to purchase that product. See
Advertisement: means any written or verbal statement, illustration, or depiction that would reasonably have the effect of inducing sales of cannabis or cannabis products, including any written, printed, graphic, or other material; billboard, sign, or other outdoor display; other periodical literature, publication, or in a radio or television broadcast; the Internet; or in any other media. See
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.
Agency: means the Agency of Transportation. See
Agency: means the Vermont Agency of Agriculture, Food and Markets. See
Agency: means the Agency of Agriculture, Food and Markets. See
Agency: means the Agency of Agriculture, Food and Markets. See
Agency: means the Agency of Agriculture, Food and Markets. See
Agency: means the Agency of Agriculture, Food and Markets. See
agreement: means one or more of the following:
agricultural waste: means material originating or emanating from a farm or imported onto a farm that is determined by the Secretary or the Secretary of Natural Resources to be harmful to the waters of the State, including sediments; minerals, including heavy metals; plant nutrients; pesticides; organic wastes, including livestock waste; animal mortalities; compost; feed, and crop debris; waste oils; pathogenic bacteria and viruses; thermal pollution; silage runoff; untreated milk house waste; and any other farm waste as the term "waste" is defined in 10 V. See
Air navigation: means the operation of aircraft in the air space over this State, or upon any airport or restricted landing area within this State. See
Aircraft: means a contrivance used or designed for navigation of or flight in the air and specifically includes ultralight aircraft. See
Airport: means any area of land or water set aside by the Agency, any political subdivision, or person, except a restricted landing area, that is designed for the landing and take-off of aircraft, and used or to be used in the interest of the general public whether or not facilities are provided for the shelter, servicing, or repair of aircraft, or for receiving or discharging passengers or cargo, and all appurtenant areas used or suitable for airport buildings or other airport facilities, including all appurtenant rights-of-way. See
Airport hazard: means a structure, object of natural growth, or use of land that obstructs the air space required for the flight of aircraft in landing or taking off at an airport or restricted landing area or is otherwise hazardous to landing or taking off. See
Alcohol: means the product of distillation, fermentation, or chemical synthesis, including alcoholic beverages, ethyl alcohol, and nonpotable alcohol. See
Alcoholic beverages: means malt beverages, vinous beverages, spirits, ready-to-drink spirits beverages, and fortified wines. See
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.
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.
Annuity: shall mean annual payments for life derived from the accumulated contributions of a member. See
Antidote: means the most practical immediate treatment in case of poisoning and includes first aid treatment. See
Applicant: means a person that applies for a license to operate a cannabis establishment pursuant to this chapter. See
Appraisal: A determination of property value.
appraised value: when used in connection with real estate shall refer to appraisals made or examined and approved by an insurer or its agents. See
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
art gallery: means a fixed establishment whose primary purpose is to exhibit or offer for sale works of art; "bookstore" means a fixed establishment whose primary purpose is to offer books for sale; "public library" has the same meaning as in 22 V. See
assessment: means a confidential, internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group and conducted by that insurer or insurance group, of the material and relevant risks associated with the insurer's or insurance group's current business plan and the sufficiency of capital resources to support those risks. See
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 admitted asset, a pool of admitted assets, or specifically divisible cash flows which are legally transferred to a trust or another special purpose bankruptcy-remote business entity, on the following conditions:
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Association: means the Vermont Property and Casualty Insurance Guaranty Association created under section 3613 of this title. See
Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
Authorized delegate: means a person located in this State that a licensee designates to provide money services on behalf of the licensee. See
Average compensable hours: shall mean average annual compensable hours for a period of five full years immediately preceding the years used to determine average final compensation for any member who terminates his or her position after July 1, 2002. See
Average final compensation: shall mean :
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}
Beneficiary: shall mean any person in receipt of a pension, an annuity, a retirement allowance, or other benefit as provided by this subchapter. See
biennially: shall mean the year in which a regular session of the General Assembly is held. See
Board: means the Transportation Board. See
Board: means the Cannabis Control Board. See
Board: means the Cannabis Control Board. See
Board: shall mean the board provided for in section 471 of this title to administer the Retirement System. See
Board of Liquor and Lottery: means the board of control appointed under the provisions of chapter 5 of this title. See
Boat: means a vessel suitably equipped and operated for the transportation of passengers in interstate commerce. See
Brand: means a term, design, or trademark used in connection with one or more grades or formulas of fertilizer, plant amendment, plant biostimulant, soil amendment, or lime. See
Brand name: means any word, name, symbol, or device, or any combination thereof, identifying the commercial feed, feed supplement, dosage form animal health product, or a distributor or registrant and distinguishing it from that of others. See
business entity: includes a sole proprietorship, corporation, limited liability company, association, partnership, joint stock company, joint venture, mutual fund, trust, joint tenancy, or other similar form of business organization, whether organized for profit or not for profit. See
Canada: means Canada, any province of Canada, or any political subdivision of Canada. See
Cannabis: means all parts of the plant Cannabis sativa L. See
Cannabis establishment: means a cannabis cultivator, propagation cultivator, wholesaler, product manufacturer, retailer, testing laboratory, or integrated licensee licensed by the Board to engage in commercial cannabis activity in accordance with this chapter. See
Cannabis product: means concentrated cannabis and a product that is composed of cannabis and other ingredients and is intended for use or consumption, including an edible product, ointment, and tincture. See
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
Certificate of approval: means a license granted by the Board of Liquor and Lottery to a manufacturer or distributor of malt beverages, vinous beverages, or ready-to-drink spirits beverages that is not licensed under the provisions of this title that permits the licensee to sell those beverages to holders of a packager's or wholesale dealer's license. See
Certificate of approval: means an authorization by the Board of Liquor and Lottery pursuant to section 274 of this title to a manufacturer or distributor of malt beverages, vinous beverages, or ready-to-drink spirits beverages not licensed under the provisions of this title, to sell those beverages to holders of a packager's or wholesale dealer's license issued by the Board pursuant to section 272 or 273 of this title. See
Certificate of approval holder: means a holder of a certificate of approval issued by the Board of Liquor and Lottery pursuant to section 274 of this title that produces or distributes a total annual volume of not more than 50,000 barrels of malt beverages and whose products comprise three percent or less of a wholesale dealer's total annual sales of malt beverages by volume. See
Certified Vermont Environmental Steward: means an owner or operator of a farm who has achieved the thresholds for the Vermont Environmental Stewardship Program to be certified as a farm that improves soil health and contributes to improving water quality. See
Chair: means the Chair of the Cannabis Control Board. See
Chair: means the Chair of the Cannabis Control Board. See
Characterizing flavor: means a taste or aroma, other than the taste or aroma of cannabis, imparted either prior to or during consumption of a cannabis product. See
Check cashing: means receiving at least $500. See
Child-deterrent packaging: means tear-resistant packaging that can be sealed in a manner that would deter children under five years of age from easily accessing the contents of the package within a reasonable time and not difficult for adults to use properly. See
Child-resistant packaging: means packaging that is designed or constructed to be significantly difficult for children under five years of age to open or obtain a toxic or harmful amount of the substance in the container within a reasonable time and not difficult for adults to use properly but does not mean packaging that all children under five years of age cannot open or obtain a toxic or harmful amount of the substance in the container within a reasonable time. See
Club: means an unincorporated association or a corporation authorized to do business in this State that has been in existence for at least two consecutive years prior to the date of application for a license under this title and owns, hires, or leases a building or space in a building that is suitable and adequate for the reasonable and comfortable use and accommodation of its members and their guests and contains suitable and adequate kitchen and dining room space and equipment implements and facilities. See
Commercial feed: means all materials except whole seeds unmixed or physically altered entire unmixed seeds, when not adulterated within the meaning of subsection 327(a) of this title, that are distributed for use as feed or for mixing in feed. See
Commission: shall mean the Vermont Pension Investment Commission. See
Commissioner: means the Commissioner of Financial Regulation. See
Commissioner: means the Commissioner of Financial Regulation or his or her deputies, as appropriate. See
Commissioner of Liquor and Lottery: means the executive officer of the Board of Liquor and Lottery appointed under the provisions of chapter 5 of this title. See
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.
Compensable hours: shall mean all hours worked during a fiscal year and shall include the following types of paid time: regular hours worked, overtime hours worked, and paid leave. See
Compensation: means the cost of a wholesale dealer's laid-in inventory related to a franchise that has been or is about to be terminated plus five times the average annual gross profits earned by the wholesale dealer on the sale of products pursuant to the franchise during the last three calendar years or, if the franchise has not been in existence for three years, the period of time during which the franchise has been in existence. See
Consumer commodity: means any food, drug, device, or cosmetic and other article, product, or commodity of any other kind or class, except for drugs sold only by prescription:
Continuance: Putting off of a hearing ot trial until a later time.
Control commissioners: means the commissioners of a municipality appointed under section 166 of this title. See
Conviction: A judgement of guilt against a criminal defendant.
corporation: means and includes individuals, partnerships, associations, and corporations, owning or conducting any transportation business or property, other than railroads and aircraft, which are covered by the provisions of this chapter. See
Council: means the Livestock Care Standards Advisory Council. See
Covered: means that an insurer owns or can immediately acquire, through the exercise of options, warrants, or conversion rights already owned, the underlying interest in order to fulfill or secure its obligations under a call option, cap, or floor it has written or has set aside under a custodial or escrow agreement cash or cash equivalents with a market value equal to the amount required to fulfill its obligations under a put option it has written, in an income generation transaction. See
Covered claim: means an unpaid claim, including a claim for unearned premiums:
Creditable service: shall mean service for which credit is allowed under section 458 of this title, plus service transferred under section 495 of this title. See
cultivator: means a person licensed by the Board to engage in the cultivation of cannabis in accordance with this chapter. See
Currency exchange: means receipt of revenues equal to or greater than five percent of total revenues from the exchange of money of one government for money of another government. See
custom applicator: means a person who is engaged in the business of applying manure or agricultural waste to land and who charges or collects other consideration for the service. See
Customer-formula feed: means commercial feed that consists of a mixture of commercial feeds or feed ingredients, each batch of which is manufactured according to the specific instructions of the final purchaser. See
Dealer: means a person who annually buys, or otherwise acquires from another person, 1,000 gallons of maple syrup or more for purposes of packaging for resale or for resale in bulk. See
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.
Defoliant: means any substance produced, distributed, or used for causing the foliage to drop from a plant, with or without causing abscission. See
Department: means the Department of Liquor and Lottery. See
Department: shall mean any department, institution, or agency of this State government. See
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.
Derivative instrument: means an agreement, option, instrument, or a series or combination thereof:
Derivative transaction: means a transaction involving the use of one or more derivative instruments. See
Desiccant: means any substance produced, distributed, or used for artificially accelerating the drying of plant tissues. See
destination resort: is a resort that contains at least 100 acres of land, offers at least 50 units of sleeping accommodations, offers meal and beverage service to the public for consideration, and has related sports and recreational facilities for the convenience or enjoyment of its guests. See
Destination resort master license: means a license granted by the Board of Liquor and Lottery pursuant to section 242 of this title permitting a destination resort to designate licensed caterers and commercial caterers that will be permitted to cater individual events within the boundaries of the resort without being required to obtain a request-to-cater permit for each individual event. See
Dining car: means a railroad car on which meals are prepared and served. See
Direct: when used in connection with "obligation" means that a designated obligor shall be primarily liable on the instrument representing the obligation. 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:
Dispensary: means a business organization licensed pursuant to chapter 37 of this title. See
Distribute: means to offer for sale, sell, exchange, or barter commercial feed, feed supplements, or dosage form animal health products or to supply, furnish, or otherwise provide commercial feed, feed supplements, or dosage form animal health products through any means, including sales outlets, catalogues, the telephone, the Internet, or any electronic means. See
Distribute: means to import, consign, manufacture, produce, compound, mix, or blend fertilizer or to offer for sale, sell, barter, or otherwise supply a fertilizer, a plant amendment, a plant biostimulant, a soil amendment, or lime in this State. See
Distributor: means any person who distributes commercial feeds, feed supplements, or dosage form animal health products. See
Distributor: means any person who distributes fertilizer, plant amendments, plant biostimulants, soil amendments, or lime. See
Division: means the Division of Liquor Control in the Department of Liquor and Lottery. See
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 jurisdiction: means the United States, any state of the United States, or any political subdivision of any of the foregoing. See
Donor: The person who makes a gift.
Dosage form animal health product: means any product intended to affect the structure or function of the animal's body or enhance or support the health or well-being of livestock, poultry, dogs, cats, or other domestic animals that does not provide nutritional benefit, does not require a prescription from a licensed veterinarian, is not intended for cosmetic purposes, or is exempted by the Secretary by rule. See
Drug: means any substance intended for use in the diagnosis, cure, mitigation, treatment, or prevention of disease in domestic animals other than humans and substances other than feed intended to affect the structure or any function of the animal body. See
Earnable compensation: shall mean the full rate of compensation that would be payable to an employee if the employee worked the full normal working time for the employee's position. See
Economic poison: means :
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}
Employee: includes deputy State's Attorneys, victim advocates employed by a State's Attorney pursuant to 13 V. See
Employee: shall mean any regular officer or employee who is employed for not less than 40 calendar weeks in a year, other than a person engaged under retainer or special agreement. See
Employer: shall mean any political subdivision of the State of Vermont and the Vermont National Guard as to employees thereof hired under 32 U. See
Enterprise risk: means any activity, circumstance, event, or series of events involving one or more affiliates of an insurer that, if not remedied promptly, is likely to have a material adverse effect upon the financial condition or liquidity of the insurer or its insurance holding company system as a whole, including anything that would cause the insurer's risk-based capital to fall into company action level as set forth in section 8303 of this title or would cause the insurer to be in hazardous financial condition under Department Regulation I-93-2, sections 3-4. 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.
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:
Escrow: Money given to a third party to be held for payment until certain conditions are met.
Ex officio: Literally, by virtue of one's office.
Executor: A male person named in a will to carry out the decedent
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 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.
Feed ingredient: means each of the constituent materials making up a commercial feed. See
Feed supplement: means a material used with another to improve the nutritive balance or performance of the total and intended to be fed undiluted as a supplement to other feeds or offered free choice with other parts of the ration separately available or further diluted and mixed to produce a complete feed. See
Fertilizer: means any substance containing one or more recognized plant nutrients that is used for its plant nutrient content and that is designed for use or claimed to have value in promoting plant growth or health, except unprocessed animal or vegetable manures and other products exempted by the Secretary. See
Fiduciary: A trustee, executor, or administrator.
First-class license: means a license permitting the licensee to sell malt beverages, vinous beverages, and ready-to-drink spirits beverages to the public for consumption only on the premises for which the license is granted. 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.
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
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 jurisdiction: means a jurisdiction other than a domestic jurisdiction or Canada. See
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}
Formulation: means a material or mixture of materials prepared according to a particular formula. See
Fortified wine permit: means a permit granted to a second-class licensee that permits the licensee to export and sell fortified wines to the public for consumption off the licensed premises. See
Fortified wines: means vinous beverages, including those to which spirits have been added during manufacture, containing at least 16 percent alcohol but not more than 23 percent alcohol by volume at 60 degrees Fahrenheit and all vermouths containing not more than 23 percent alcohol by volume at 60 degrees Fahrenheit. See
Forward: means an agreement (other than a future) to make or take delivery of, or effect a cash settlement based on the actual or expected price, level, performance, or value of, one or more underlying interests. See
Fourth-class license: means a license permitting a licensed manufacturer or rectifier to sell by the unopened container and distribute by sample, with or without charge, beverages manufactured by the licensee. See
Franchise: means a written agreement governing a relationship between a wholesale dealer and a certificate of approval holder or manufacturer that has existed for at least one year and has one or more of the following characteristics:
Franchisee: means any malt beverages, vinous beverages, or ready-to-drink spirits beverages wholesale dealer to whom a franchise or agreement as defined in this section is granted or offered, or any malt beverages, vinous beverages, or ready-to-drink spirits beverages certificate of approval holder or manufacturer who is a party to a franchise or agreement as defined in this section. See
Franchisor: means any malt beverages, vinous beverages, or ready-to-drink spirits beverages certificate of approval holder or manufacturer who enters into any franchise or agreement with a malt beverages or vinous beverages wholesale dealer, or any malt beverages or vinous beverages certificate of approval holder or manufacturer who is a party to a franchise or agreement as defined in this section. See
Fungi: means all nonchlorophyll-bearing thallophytes (that is, all nonchlorophyll-bearing plants of a lower order than mosses and liverworts) as, for example, rusts, smuts, mildews, molds, yeast, and bacteria, except those on or in living humans or other animals. See
Fungicide: means any substance or mixture of substances intended for preventing, destroying, repelling, or mitigating any fungi. See
Future: means an agreement, traded on a qualified exchange or qualified foreign exchange, to make or take delivery of, or effect a cash settlement based on the actual or expected price, level, performance, or value of, one or more underlying interests. See
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
Germane: On the subject of the pending bill or other business; a strict standard of relevance.
Governing board: shall mean the governing body, by whatever name known, of such employer. See
Grade: means the percentage of total nitrogen, available phosphorus or phosphoric acid, and soluble potassium or potash stated in whole numbers in the same terms, order, or percentages as in the guaranteed analysis. See
grades: means the standards for maple syrup adopted through regulation by the Secretary. See
grades: means the standards for potatoes established by the U. See
Grantor: The person who establishes a trust and places property into it.
group: means an insurance holding company system that:
Group A members: means employees classified under subdivision (A) of subdivision (9) of this subsection (a). See
Group C members: means employees classified under subdivision (B) of subdivision (9) of this subsection (a) who become members as of the date of establishment, any person who is first included in the membership of the System on or after July 1, 1998, any person who was a Group B member on June 30, 1998, who was in service on that date, and any person who was a Group B member on June 30, 1998, who was absent from service on that date who returns to service on or after July 1, 1998. See
Group D members: means Justices of the Supreme Court, Superior judges, district judges, environmental judges, and probate judges. See
Group F member: means any person who is first included in the membership of the System on or after January 1, 1991, any person who was a Group E member on December 31, 1990, who was in service on that date, and any person who was a Group E member on December 31, 1990, who was absent from service on that date who returns to service on or after January 1, 1991. See
Group G member: means the following employees who are first employed in the positions listed in this subdivision (F) on or after July 1, 2023, or who are members of the System as of June 30, 2022 and make an irrevocable election to prospectively join Group G on or before June 30, 2023, pursuant to the terms set by the Board: facility employees of the Department of Corrections, as Department of Corrections employees who provide direct security and treatment services to offenders under supervision in the community, as employees of a facility for justice-involved youth, or as Vermont State Hospital employees or as employees of its successor in interest, who provide direct patient care. See
Grow: means :
Grower: means a person who is registered with the Agency to produce hemp crops. See
Guaranteed: means that the guarantor will perform the obligation of the obligor or will purchase the obligation to the extent of the guaranty. See
Guaranteed analysis: means :
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.
Guidance Manual: means the current version of the Own Risk and Solvency Assessment Guidance Manual developed and adopted by the NAIC, as may be amended from time to time. See
Hedging transaction: means a derivative transaction that is entered into and maintained to reduce:
Hemp: means the plant Cannabis sativa L. See
Hemp: means the plant Cannabis sativa L. See
hemp-infused products: means all products with the federally defined tetrahydrocannabinol concentration level for hemp derived from, or made by, processing hemp plants or plant parts, which are prepared in a form available for commercial sale, including cosmetics, personal care products, food intended for animal or human consumption, cloth, cordage, fiber, fuel, paint, paper, construction materials, plastics, and any product containing one or more hemp-derived cannabinoids, such as cannabidiol. See
hemp-infused products: means all products with the federally defined tetrahydrocannabinol concentration level for hemp derived from, or made by, processing hemp plants or plant parts that are prepared in a form available for commercial sale, including cosmetics, personal care products, food intended for animal or human consumption, cloth, cordage, fiber, fuel, paint, paper, construction materials, plastics, and any product containing one or more hemp-derived cannabinoids, such as cannabidiol. See
Herbicide: means any substance or mixture of substances intended for preventing, destroying, repelling, or mitigating any weed. See
Income generation transaction: means a derivative transaction involving the writing of covered call options, covered put options, covered caps, or covered floors that is intended to generate income or enhance return. 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}
Ingredient statement: means :
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.
Insecticide: means any substance or mixture of substances intended for preventing, destroying, repelling, or mitigating any insects that may be present in any environment whatsoever. See
Insolvent insurer: means an insurer, including a cooperative fire insurance corporation existing under the authority of chapter 105, subchapter 2 of this title:
Inspector: means any person designated by the Secretary to carry out the Secretary's duties under this chapter. See
Insurance group: means those insurers and affiliates included within an insurance holding company system as defined in subdivision 3681(5) of this title. See
Insurer: means a company qualified and licensed to transact the business of insurance in this State and shall include a health maintenance organization, a nonprofit hospital service corporation, and a nonprofit medical service corporation, except that it shall not include:
Integrated licensee: means a person licensed by the Board to engage in the activities of a cultivator, wholesaler, product manufacturer, retailer, and testing laboratory in accordance with this chapter. See
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}
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.
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
Keg: means a reusable container capable of holding at least five gallons of malt beverage or at least two-and-one-half gallons of vinous beverage. See
Label: means a display of written, printed, or graphic matter upon or affixed to the container in which a commercial feed, feed supplement, or dosage form animal health product is distributed or on the invoice or delivery slip with which a commercial feed, feed supplement, or dosage form animal health product is distributed. See
Label: means the display of all written, printed, or graphic matter upon the immediate container or a statement accompanying a fertilizer, plant amendment, plant biostimulant, soil amendment, or lime. See
Label: means the written, printed, or graphic matter on, or attached to, the economic poison, or the immediate container thereof, and the outside container or wrapper of the retail package, if any there be, of the economic poison. See
Labeling: means all labels and other written, printed, or graphic matter upon a commercial feed, feed supplement, or dosage form animal health product or any of its containers; the wrapper accompanying the commercial feed, feed supplement, or dosage form animal health product; or advertisements, brochures, posters, electronic media, the Internet, and television and radio announcements used in promoting the sale of the commercial feed, feed supplement, or dosage form animal health product. See
Labeling: means all written, printed, or graphic material upon or accompanying any fertilizer, plant amendment, plant biostimulant, soil amendment, or lime, including advertisements, brochures, posters, and television and radio announcements used in promoting the sale of the fertilizer, plant amendment, plant biostimulant, soil amendment, or lime. See
Labeling: means all labels and other written, printed, or graphic matter:
Legal age: means 21 years of age or older. See
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
lime: means one or more of the following:
Listed bond mutual fund: means a mutual fund that at all times qualifies for inclusion on the "bond fund list" within the Purposes and Procedures of the NAIC Investment Analysis Office or any successor publication. See
Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
Livestock: means cattle, horses, sheep, swine, goats, camelids, fallow deer, red deer, reindeer, and American bison. See
Livestock: means cattle, calves, sheep, swine, horses, mules, goats, fallow deer, American bison, poultry, and any other animal that can or may be used in and for the preparation of meat, fiber, or poultry products. See
Livestock dealer: means a person who, on the person's own account or for commission, goes from place to place buying, selling, or transporting livestock either directly or through online or other remote transaction, or who operates a livestock auction or sales ring, provided that "livestock dealer" shall not mean:
Local retirement fund: shall mean any retirement, pension, or benefit fund partially or wholly maintained at the expense of an employer. See
Malt beverages: means all fermented beverages of any name or description manufactured for sale from malt, wholly or in part, or from any malt substitute, known as, among other things, beer, ale, or lager, containing not less than one percent nor more than 16 percent alcohol by volume at 60 degrees Fahrenheit. See
Manufacture: means to produce, grind, mix, or blend or further process a commercial feed, feed supplement, or dosage form animal health product for distribution. See
Manufacturer: means a manufacturer licensed pursuant to section 271 of this title that produces a total annual volume of not more than 50,000 barrels of malt beverages and whose products comprise three percent or less of a wholesale dealer's total annual sales of malt beverages by volume. See
Manure: means livestock waste in solid or liquid form that may also contain bedding, spilled feed, water, or soil. See
Maple products: means only maple syrup, maple sugar, maple cream, or any other product in which the sugar content is entirely derived from pure maple sap and to which nothing has been added. See
Maple sap: means the unprocessed liquid derived from the maple tree (Acer). See
Maple sap hydrometer: means a floating instrument that measures the specific gravity of a liquid and that contains a scale designed to determine the sugar content of maple sap. See
Maple sugar: means the solid, crystalline produce of maple tree sap only. See
Maple syrup: means pure maple syrup that is the liquid derived by concentration and heat treatment of the sap of the maple tree (Acer). See
maximum allowance: shall mean the sum of the annuity and the pension. See
Medical Board: shall mean the board of physicians provided for in section 471 of this title. See
Member: means any employee included in the membership of the Retirement System under section 457 of this title. See
Member insurer: means any person who:
Membership service: means service rendered while a member of the Retirement System. See
Minor: means an individual who has not attained 21 years of age. See
Monetary value: means a medium of exchange, whether or not redeemable in money. See
Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See
Money market mutual fund: means a mutual fund that meets the conditions of 17 C. See
Money services: means money transmission, check cashing, or currency exchange. See
Money transmission: means to engage in the business of selling or issuing payment instruments, selling or issuing prepaid access, or receiving money or monetary value for transmission to a location within or outside the United States. 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.
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
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.
Municipality: means a county, city, village, town, or any other political subdivision of this State and any public corporation, authority, or district of this State that is or may be authorized by law to acquire, establish, construct, maintain, improve, or operate transportation facilities or services. See
Municipality: means a town, city, or incorporated village. 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 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 U. See
NAIC: means the National Association of Insurance Commissioners. See
NAIC: means the National Association of Insurance Commissioners. See
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 Guard employees: shall mean employees of the Vermont National Guard hired under 32 U. See
Nematocide: means any substance produced, distributed, or used for preventing, destroying, or repelling nematodes. See
Nematode: means invertebrate animals of the phylum nemathelminthes and class nematoda, that is, unsegmented round worms with elongated, fusiform, or saclike bodies covered with cuticle, and inhabiting soil, water, plants, or plants parts. See
Neonicotinoid pesticide: means any economic poison containing a chemical belonging to the neonicotinoid class of chemicals, including:
Neonicotinoid pesticide: means any economic poison containing a chemical belonging to the neonicotinoid class of chemicals. See
Net direct written premiums: means direct gross premiums written in this State on insurance policies to which this subchapter applies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. See
Normal retirement date: means :
obligation: means that a designated obligor shall be primarily liable on the instrument representing the obligation. See
Official sample: means a sample of feed taken by the Secretary in accordance with the provisions of subdivision 330(3) of this title. See
Offloaded: means removed or otherwise taken off or away from the conveyance of transport. See
Option: means an agreement giving the buyer the right to buy or receive (a "call option"), sell or deliver (a "put option"), enter into, extend, or terminate or effect a cash settlement based on the actual or expected price, level, performance, or value of one or more underlying interests. See
Outside consumption permit: means a permit granted by the Division of Liquor Control allowing the holder of a first-class, first- and third-class, or fourth-class license to allow for consumption of alcoholic beverages in a delineated outside area. See
Oversight: Committee review of the activities of a Federal agency or program.
Owner: means a natural person who controls, or shares control of, a Cannabis Establishment. See
Packaged maple syrup: means maple syrup packed in containers of five gallons or less. See
Packer: means a livestock dealer who is solely involved in the purchase of livestock for purpose of slaughter at his or her own slaughter facility. See
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
Pension: shall mean annual payments for life derived from contributions by the State. See
percentage: means the percentage by weight. See
percentages: means percentages by weights. See
Permitted analytical variances: means those allowances for the inherent variability in sampling and laboratory analysis. See
Person: means an individual, firm, partnership, corporation, company, association, joint stock association, or body politic, including a trustee, receiver, assignee, or other similar representative. See
person: as used in this chapter , shall include corporations, companies, societies, and associations. See
Person: means individuals, groups of individuals, partnerships, limited partnerships, corporations, companies, cooperatives, and associations. See
Person: means any individual, partnership, unincorporated association, or corporation. See
Person: means any individual, partnership, association, corporation, or organized group of persons whether incorporated or not. 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
Person: means any individual, corporation, partnership, association, or voluntary organization. See
Person: means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an unincorporated organization, any similar entity or any combination of the foregoing acting in concert, but shall not include any securities broker performing no more than the usual and customary broker's function. See
Personal estate: shall include all property other than real estate. See
Pest: means any insect, rodent, nematode, fungus, weed, or any other form of terrestrial or aquatic plant or animal life or virus, bacteria, or other microorganisms that the Secretary declares as being injurious to health or environment. See
Pet: means any domesticated animal normally maintained in or near the household of the owner. See
Pet food: means any commercial feed prepared and distributed for consumption by pets. See
Plaintiff: The person who files the complaint in a civil lawsuit.
Plant amendment: means any substance applied to plants or seeds that is intended to improve growth, yield, product quality, reproduction, flavor, or other favorable characteristics of plants, except for fertilizer, soil amendments, agricultural liming materials, animal and vegetable manures, pesticides, plant regulators, and other materials exempted by rule adopted under this chapter. See
Plant biostimulant: means a substance or microorganism that, when applied to seeds, plants, or the rhizosphere, stimulates natural processes to enhance or benefit nutrient uptake, nutrient efficiency, tolerance to abiotic stress, or crop quality and yield, except for fertilizers, soil amendments, plant amendments, or pesticides. See
Plant canopy: means the square footage dedicated to live plant production and does not include areas such as office space or areas used for the storage of fertilizers, pesticides, or other products. See
Plant regulator: means any substance produced, distributed, or used for the purposes of accelerating or retarding the rate of growth or rate of maturation, or otherwise altering the behavior of plants but shall not include substances produced, distributed, or used for plant nutrients, trace elements, nutritional chemicals, plant inoculants, and soil amendments. See
Political subdivision: means any county, city, town, or other municipality. See
Potential exposure: means the amount determined in accordance with the NAIC Annual Statement Instructions. See
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.
Predecessor system: shall mean , where applicable, the Vermont Employees' Retirement System and the Vermont State Police and Motor Vehicle Inspectors' Retirement System, either one of them, or a combination thereof. See
Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
Prepaid access: means funds or monetary value represented in digital electronic format, including virtual currency, whether or not specially encrypted, that are stored or capable of storage on electronic media and are retrievable and transferable electronically. See
President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
Principal: means one of the following:
Principal display panel: shall be construed to mean that part of a label that is so designed as most likely to be displayed, presented, shown, or examined under normal and customary conditions of display and purchase. See
Prior service: shall mean service rendered prior to the date of membership in the Retirement System for which credit was given under the terms of one or both of the predecessor systems as set forth in section 458 of this title. See
Probable cause: A reasonable ground for belief that the offender violated a specific law.
Probate: Proving a will
Process: includes transporting, aggregating, packaging hemp from a single grower or multiple growers, or manufacturing hemp products or hemp-infused products from hemp concentrate. See
Processor: means a person who annually buys, or otherwise acquires from another person, 2,500 gallons of maple syrup or more for purposes of packaging for resale, processing into associated products, or for resale in bulk. See
Processor: means a person who is registered with the Agency to process hemp crops. See
Produce farm: means any farm engaged in the growing, harvesting, packing, or holding of produce. See
Product: means the name of the commercial feed, feed supplement, or dosage form animal health product that identifies it as to kind, class, or specific use. See
Product: means the name of the fertilizer, plant amendment, plant biostimulant, soil amendment, or lime that identifies it as to kind, class, or specific use. See
product manufacturer: means a person licensed by the Board to manufacture cannabis products in accordance with this chapter. See
propagation cultivator: means a person licensed by the Board to cultivate cannabis clones, immature plants, and mature plants in accordance with this chapter. See
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
Public eating place: means any person or establishment engaged in the business of preparing and selling food for the general public's consumption on premises and who is subject to the license requirement of 18 V. See
Public place: means any street, alley, park, sidewalk, public building other than individual dwellings, any place of public accommodation as defined in 9 V. See
Qualified bank: means :
Qualified clearinghouse: means a clearinghouse for, and subject to the rules of, a qualified exchange or a qualified foreign exchange, which provides clearing services, including acting as a counterparty to each of the parties to a transaction, such that the parties no longer have credit risk as to each other. See
Qualified exchange: means :
Qualified foreign exchange: means a foreign exchange, board of trade, or contract market located outside the United States, its territories, or possessions:
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 can be brought in a domestic jurisdiction or Canada. See
Quorum: The number of legislators that must be present to do business.
Rated credit instrument: means a contractual right to receive cash or another rated credit instrument from another entity, which instrument:
Reactor: means livestock or poultry that test positive to a test required under this chapter. See
Ready-to-drink spirits beverage: means an alcoholic beverage containing more than one percent alcohol by volume and not more than 12 percent alcohol by volume at 60 degrees Fahrenheit obtained by distillation, by chemical synthesis, or through concentration by freezing and mixed with nonalcoholic beverages, flavoring, or coloring materials. 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.
Regenerative farming: means a series of cropland management practices that:
Registrant: means the person who registers a fertilizer, plant amendment, plant biostimulant, soil amendment, or lime under the provisions of this chapter. See
Registrant: means the person registering any economic poison pursuant to the provisions of this chapter. See
Regular interest: shall mean interest at such rate or rates as may be set from time to time by the Retirement Board in accordance with subsection 472(b) of this title. 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.
Remand: When an appellate court sends a case back to a lower court for further proceedings.
Request-to-cater permit: means a permit granted by the Division of Liquor Control authorizing a licensed caterer or commercial caterer to cater individual events. See
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.
Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
Retail dealer: means any person who sells or furnishes malt beverages, vinous beverages, or ready-to-drink spirits beverages to the public. See
Retail delivery permit: means a permit granted by the Division of Liquor Control that permits a second-class licensee to deliver malt beverages and vinous beverages sold from the licensed premises for consumption off the premises to an individual who is 21 years of age or older at a physical address in Vermont. See
retailer: means a person licensed by the Board to sell cannabis and cannabis products to adults 21 years of age and older for off-site consumption or cultivation in accordance with this chapter. See
Retirement Board: shall mean the Retirement Board of the State Retirement System. See
Retirement System: shall mean the Vermont State Retirement System as defined in section 456 of this title. See
Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
road: shall include bridges thereon and their approaches. See
said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
sales territory: means the area of sales responsibility designated by any agreement or franchise between any franchisee or franchisor for the brand or brands of any franchisor or manufacturer. See
Sampler flight: means a flight, ski, paddle, or any similar device by design or name intended to hold alcoholic beverage samples for the purpose of comparison. 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
Second-class license: means a license permitting the licensee to export and to sell malt beverages, vinous beverages, or ready-to-drink spirits beverages to the public for consumption off the premises for which the license is granted. See
Secretary: means the Secretary of Transportation. See
Secretary: means the Secretary for the Vermont Agency of Agriculture, Food and Markets or his or her designee. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Secretary: means the Secretary of Agriculture, Food and Markets. See
Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
Service: shall mean service as an employee for which compensation is paid by the State. See
Service of process: The service of writs or summonses to the appropriate party.
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
Small cultivator: means a cultivator with a plant canopy or space for cultivating plants for breeding stock of not more than 1,000 square feet. See
Social Security benefit: shall mean the amount of the member's primary insurance benefit or disability insurance benefit under Title II of the Social Security Act and such other benefit or benefits as may be payable on the member's account under said title, computed on the basis of such act as in effect at the time of retirement and limited to the portion of such benefit or benefits that is attributable to service for which the member receives credit under section 458 of this title, to which a member or other person on his or her account is or would upon proper application be entitled, irrespective of earnings the member or members may be receiving in excess of any limit on earnings for full entitlement to such benefit or benefits. See
Soil amendment: means a substance or mixture of substance that is intended to improve the physical, chemical, biological, or other characteristics of the soil, or a distinct form of horticultural growing media used in lieu of soil. See
Special event permit: means a permit granted by the Division of Liquor Control permitting a licensed manufacturer or rectifier to sell, by the glass or by the unopened bottle, alcoholic beverages manufactured or rectified by the license holder at an event open to the public that has been approved by the local control commissioners. See
Special rated credit instrument: means a rated credit instrument that is:
Special venue serving permit: means a permit granted by the Division of Liquor Control permitting an art gallery, bookstore, public library, or museum to conduct an event at which malt or vinous beverages, or both, are served by the glass to the public. See
Spirits: means beverages that contain more than one percent alcohol obtained by distillation, by chemical synthesis, or through concentration by freezing; vinous beverages containing more than 23 percent alcohol; and malt beverages containing more than 16 percent alcohol by volume at 60 degrees Fahrenheit. See
Statute: A law passed by a legislature.
Structure: means any object constructed or installed by man, including buildings, towers, smokestacks, and overhead transmission lines. See
Successor in interest: means the mental health hospital owned and operated by the State that provides acute inpatient care and replaces the Vermont State Hospital. See
Summary Report: means a confidential high-level summary of an insurer or insurance group's ORSA. See
supervisor: means the regulatory official authorized to engage in conducting and coordinating groupwide supervision activities, as specified by the Commissioner under section 3696 of this subchapter. See
Suspect: means livestock or poultry that are tested under a requirement in this chapter and are not classified as testing positive or negative. See
SVO: means the Securities Valuation Office of the NAIC or any successor office established by the NAIC. See
Swap: means an agreement to exchange or to net payments at one or more times based on the actual or expected price, level, performance, or value of one or more underlying interests. See
sworn: shall include affirmed. See
system: means two or more affiliated persons, one or more of which is an insurer. See
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.
testing laboratory: means a person licensed by the Board to test cannabis and cannabis products in accordance with this chapter. See
Third-class license: means a license granted by the Board of Liquor and Lottery permitting the licensee to sell spirits and fortified wines for consumption only on the premises for which the license is granted. See
Ton: means a net weight of 2,000 pounds avoirdupois. See
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.
Total annual sales: means the total volume of all malt beverages sold by a wholesale dealer in the last four completed calendar quarters. See
Total annual volume: means :
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
Transporter: means a livestock dealer who limits his or her activity to transporting livestock for remuneration. See
Treated article: means a pesticide or class of pesticides exempt under 40 C. See
Treated article seed: means an agricultural seed, flower seed, or vegetable seed that is a treated article pesticide. See
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}
Trustee: A person or institution holding and administering property in trust.
under common control with: means the possession, direct or indirect, 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 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
Underlying interest: means the assets, liabilities, other interests, or a combination thereof underlying a derivative instrument, such as any one or more securities, currencies, rates, indices, commodities, or derivative instruments. See
Use: includes all purposes for which a fertilizer, plant amendment, plant biostimulant, soil amendment, or lime is applied. 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.
Venue: The geographical location in which a case is tried.
Verdict: The decision of a petit jury or a judge.
Vermont State Retirement Fund: shall mean the fund created by section 473 of this title, which shall contain the assets of the Retirement System and from which shall be paid the benefits due to beneficiaries and the expenses of the Retirement System. See
Village: shall mean an incorporated village. See
Vinous beverages: means all fermented beverages of any name or description manufactured or obtained for sale from the natural sugar content of fruits or other agricultural product, containing sugar, the total alcoholic content of which is not less than one percent nor more than 16 percent by volume at 60 degrees Fahrenheit. See
Virtual currency: means a digital representation of value that:
Voting security: shall include any security convertible into or evidencing a right to acquire a voting security. See
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
Weed: means any plant that grows where not wanted. See
Weight: means the weight of undried material as offered for sale. See
Wholesale dealer: means a packager licensed pursuant to section 272 of this title or a wholesale dealer licensed pursuant to section 273 of this title. See
wholesaler: means a person licensed by the Board to purchase, process, transport, and sell cannabis and cannabis products in accordance with this chapter. See
Writ: A formal written command, issued from the court, requiring the performance of a specific act.