Terms Used In Vermont Statutes > Title 6 > Chapter 24 - Agricultural Marketing Rules

• 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.
• 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.
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Covered employee: means an individual who is 18 years of age or older who is employed by a covered employer and who has wages or other compensation that are allocable to the State during a calendar year. See
• Covered employer: means a person, entity, or subsidiary engaged in a business, industry, profession, trade, or other enterprise in the State, whether for profit or not for profit, that has not offered to an employee, or is within a control group that maintains or contributes to, effective in form or operation at any time within the current calendar year or two preceding calendar years, a specified tax-favored retirement plan. 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}
• ERISA: means the federal Employee Retirement Income Security Act of 1974, as amended, 29 U. See
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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
• 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}
• Internal Revenue Code: means the U. See
• IRA: means a traditional IRA or a Roth IRA. See
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Participant: means an individual who has an IRA under the Program. 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.
• Program: means the VT Saves Program established in accordance with this chapter. See
• Roth IRA: means a Roth individual retirement account or Roth individual retirement annuity described in Section 408A of the Internal Revenue Code. See
• Specified tax-favored retirement plan: means a plan, program, or arrangement that is tax qualified under or described in, and satisfies the requirements of, Section 401(a), Section 401(k), Section 403(a), Section 403(b), Section 408(k), Section 408(p), or Section 457(b) of the Internal Revenue Code, without regard to whether it constitutes an employee benefit plan under ERISA. See
• Trust: means the trust in which the assets of the Program are held. See
• Trustee: A person or institution holding and administering property in trust.
• Vendor: means :

• Vermont Retirement Security Fund: means the fund established in section 534 of this chapter for the sole purpose of paying the administrative costs and expenses of the Program. See
• Wages: means any compensation within the meaning of Section 219(f)(1) of the Internal Revenue Code that is received by an employee from an employer during a calendar year. See
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.