Terms Used In Vermont Statutes > Title 8 > Chapter 121 - Fraternal Benefit Societies

• Acknowledgment: means a declaration by an individual before a notary public that the individual has signed a record for the purpose stated in the record and, if the record is signed in a representative capacity, that the individual signed the record with proper authority and signed it as the act of the individual or entity identified in the record. See
• Acutely hazardous waste: means those specification and off-specification commercial chemical products or manufacturing chemical intermediates that are listed at 40 C. See
• 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.
• Affiliated reinsurance company: means a company licensed by the Commissioner pursuant to this subchapter to reinsure risks ceded by one or more ceding insurers that are affiliated companies. See
• Alien captive insurance company: means any insurance company formed to write insurance business for its parents and affiliates and licensed pursuant to the laws of an alien jurisdiction that imposes statutory or regulatory standards in a form acceptable to the Commissioner on companies transacting the business of insurance in such jurisdiction. See
• 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.
• Americans with Disabilities Act: means the federal Americans with Disabilities Act of 1990 and regulations promulgated under the Act, as amended at any time. 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.
• Applicable individual: means , with respect to any month, an individual other than the following:

• Appraisal: A determination of property value.
• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Association: means any legal association of individuals, corporations, limited liability companies, partnerships, associations, or other entities, the member organizations of which or which does itself, whether or not in conjunction with some or all of the member organizations:

• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• 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}
• Bequest: Property gifted by will.
• biennially: shall mean the year in which a regular session of the General Assembly is held. See
• Bond: means any bond or note issued by the municipal corporation and payable out of the net revenues from the operation of a public utility project. See
• Boxer: means an individual who participates in a boxing match. See
• Branch business: means any insurance business transacted by a branch captive insurance company in this State. See
• Branch captive insurance company: means any alien captive insurance company licensed by the Commissioner to transact the business of insurance in this State through a business unit with a principal place of business in this State. See
• Branch operations: means any business operations of a branch captive insurance company in this State. See
• Captive insurance company: means any pure captive insurance company, association captive insurance company, sponsored captive insurance company, industrial insured captive insurance company, agency captive insurance company, risk retention group, affiliated reinsurance company, or special purpose financial insurance company formed or licensed under the provisions of this chapter. See
• Ceding insurer: means an insurance company approved by the Commissioner and licensed or otherwise authorized to transact the business of insurance or reinsurance in its state or country of domicile, which cedes risk to a special purpose financial insurance company pursuant to a reinsurance contract. See
• Ceding insurer: means an insurance company approved by the Commissioner and licensed or otherwise authorized to transact the business of insurance or reinsurance in its state or country of domicile, which cedes risk to an affiliated reinsurance company pursuant to a reinsurance contract. See
• Certificate: means a certificate of compliance, affirmation, or exemption that is a part of the property transfer return. See
• Chambers: A judge's office.
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Commissioner: means the Commissioner of Financial Regulation. See
• Commissioner: means the Commissioner of Motor Vehicles. See
• Commissioner: means the Commissioner of Vermont Health Access. See
• Commissioner: means the Commissioner of Taxes or any officer or employee of the Department authorized by the Commissioner, directly or indirectly by one or more redelegations of authority, to perform the functions mentioned or described in this chapter. See
• Commissioner: means the Commissioner of Taxes or any person authorized by the Commissioner (directly or indirectly by one or more redelegations of authority) to perform the functions described in this chapter. See
• Commissioner: means the Commissioner of Disabilities, Aging, and Independent Living. See
• Commissioner: means the Commissioner of Financial Regulation. See
• Commissioner: means the Commissioner of Financial Regulation. See
• Commissioner of Health: means the Commissioner of Health appointed under 3 V. See
• Committed: means pledged and appropriated for the purpose of the current and future payment of tax increment financing incurred in accordance with section 1894 of this subchapter and related costs as defined in this section. 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.
• Communication technology: means an electronic device or process operating in accordance with section 5380 of this chapter and any standards adopted by the Office pursuant to section 5323 of this chapter that:

• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contemplation of death: The expectation of death that provides the primary motive to make a gift.
• Contestant: includes both amateur and professional mixed martial arts competitors. See
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Controlling interest: means :

• Conviction: A judgement of guilt against a criminal defendant.
• Cost of operation and maintenance: shall mean the expenses for operation, maintenance, repairs, and ordinary replacements properly and directly attributable to the operation or ordinary maintenance of the public utility project. See
• Covered wages: means wages paid to an employee by an employer. See
• Decedent: A deceased person.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deed: includes any deed, instrument, memorandum of deed, memorandum of lease, or other writing evidencing a transfer of title to property. See
• Delinquency proceeding: means any proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing, or conserving such insurer, and any summary proceeding under sections 7041 and 7042 of this title. See
• Department: means the Department of Disabilities, Aging, and Independent Living. See
• Department: means the Department of Financial Regulation. See
• Dependent: A person dependent for support upon another.
• Devise: To gift property by will.
• Director: means the Director of the Office of Professional Regulation. See
• Director: means the Director of the Office of Professional Regulation. See
• Director: means the Director of the Office of Professional Regulation. See
• Director: means the Director of the Office of Professional Regulation. See
• Director: means the Director of the Vermont Office of Professional Regulation. See
• Disciplinary action: includes any action by the administrative law officer appointed under 3 V. 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
• Domiciliary state: means the state in which an insurer is incorporated or organized or, in the case of an alien insurer, its state of entry. See
• Donor: The person who makes a gift.
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See
• Electronic signature: means an electronic symbol, sound, or process attached to or logically associated with a record and executed or adopted by an individual with the intent to sign the record. See
• Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. ^{Source: OCC}
• Employee: means an individual who is:

• Employee: means an individual who receives payments with respect to services performed for an employer from which the employer is required to withhold Vermont income tax pursuant to chapter 151, subchapter 4 of this title. See
• Employer: means a person who is required to furnish unemployment insurance coverage pursuant to 21 Vt. See
• Employer: means a person who employs one or more employees who is required to withhold income tax from wages paid to the employees pursuant to chapter 151, subchapter 4 of this title. 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.
• Establishment: means any place of business that:

• Estate: means the gross estate of a decedent as determined for the purpose of federal estate tax and the estate tax payable to this State. 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.
• Executor: A male person named in a will to carry out the decedent
• Exhibition: means an engagement in which the contestants show or display their skills without necessarily striving to win. 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.
• family: shall mean persons in a relationship to the transferor of grandparent, parent or stepparent, brother or sister, or natural or adopted child. See
• farmland: means land that will be actively operated or leased as part of a farm enterprise, and "open-space land" shall mean land without structures thereon. See
• 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.
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means executor, administrator of any description, and trustee. See
• Financing: means debt incurred, including principal, interest, and any fees or charges directly related to that debt, or other instruments or borrowing used by a municipality to pay for improvements in a tax increment financing district, only if authorized by the legal voters of the municipality in accordance with section 1894 of this subchapter. 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 state: means a government other than the United States, a state, or a federally recognized Indian tribe. See
• Forester: means a person who is licensed to practice forestry under this chapter. See
• Forestry: means the science, art, and practice of creating, managing, using, and conserving forests and associated resources to meet desired goals, needs, and values, including timber management, wildlife management, biodiversity management, and watershed management. 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}
• Fraud: Intentional deception resulting in injury to another.
• FTE: means the number of employees expressed as the number of employee hours worked during a calendar quarter divided by 520. See
• general assets: include all such property or its proceeds in excess of the amount necessary to discharge the sum or sums secured thereby. See
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Grantor: The person who establishes a trust and places property into it.
• Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
• Guaranty association: means the Vermont Property and Casualty Insurance Guaranty Association created in accordance with the provisions of chapter 101, subchapter 9 of this title, the Vermont Life and Health Insurance Guaranty Association created in accordance with the provisions of chapter 112 of this title, and any other similar entity now or hereafter created by the General Assembly of this State for the payment of claims of insolvent insurers. See
• 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.
• Health care coverage: shall mean any private or public plan that includes both hospital and physician services. See
• Health care provider: means a health care practitioner licensed in Vermont who is permitted under the practitioner's statutory or regulatory scope of practice to conduct the types of examinations set forth in this subchapter. See
• Health insurance: means any group or individual health care benefit policy, contract, or other health benefit plan offered, issued, renewed, or administered by any health insurer, including any health care benefit plan offered, issued, renewed, or administered by any health insurance company, any nonprofit hospital and medical service corporation, any dental service corporation, or any managed care organization as defined in 18 V. See
• Health insurer: means any person who offers, issues, renews, or administers a health insurance policy, contract, or other health benefit plan in this State and includes third party administrators or pharmacy benefit managers who provide administrative services only for a health benefit plan offering coverage in this State. See
• Home care services: include room, board, safety services, household services, and any specialized services to meet the unique needs of the individual. See
• Identity proofing: means a process or service operating in accordance with section 5380 of this chapter and any standards adopted by the Office pursuant to section 5323 of this chapter by which a third person provides a notary public with a means to verify the identity of a remotely located individual by a review of personal information from public or private data sources. See
• Improvement: shall include , apart from its ordinary signification:

• Improvements: means the installation, new construction, or reconstruction of infrastructure that will serve a public purpose and fulfill the purpose of tax increment financing districts as stated in section 1893 of this subchapter, including utilities, transportation, public facilities and amenities, land and property acquisition and demolition, and site preparation. See
• Improvements: means the installation, new construction, or reconstruction of infrastructure to benefit a municipal tax increment financing district, including utilities, transportation, public facilities and amenities, land and property acquisition and demolition, and site preparation. See
• In a representative capacity: means acting as:

• 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}
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insolvent: means :

• Insurer: means any person who has done, purports to do, is doing or is licensed to do an insurance business, and is or has been subject to the authority of, or to liquidation, rehabilitation, reorganization, supervision, or conservation by, any insurance commissioner. 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}
• Intestate: Dying without leaving a will.
• 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.
• 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
• land: is a ny land up to 10 acres, with the modification permitted by subsection (c) of this section, acquired by a person who will build on that land a house that, by the next succeeding sale, will be the principal residence of the occupant when the person purchases from the person who built the house. See
• Legislative body: means the mayor and alderboard, the city council, the selectboard, and the president and trustees of an incorporated village, as appropriate. See
• Legislative body: means the mayor and alderboard, the city council, the selectboard, or the president and trustees of an incorporated village, as appropriate. See
• Legislative branch: shall mean the mayor and board of aldermen of a city, the selectboard of a town, the trustees of a village, the board of school directors of a school district, the trustees or prudential committee of a graded school or fire district, and the Board of Governors of the unified towns and gores of Essex County, and, with respect to other municipal corporations, the governing body designated by statute. See
• Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• License: means a current authorization granted by the Director permitting the practice of pollution abatement facility operation. See
• License: means a current authorization granted by the Director permitting the practice of forestry pursuant to this chapter. See
• Lien: A claim against real or personal property in satisfaction of a debt.
• Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
• Management: means the board of directors, managing board, or other individual or individuals vested with overall responsibility for the management of the affairs of the special purpose financial insurance company, including officers or other agents elected or appointed to act on behalf of the special purpose financial insurance company. See
• Manager: means a person who receives compensation for service as an agent or representative of a professional boxer. See
• match: means a contest or training exhibition for a prize or purse where an admission fee is charged and where individuals score points by striking the head and upper torso of an opponent with padded fists. See
• Mixed martial arts: means unarmed combat involving the use, subject to any applicable limits set forth in this subchapter and in any rules adopted in accordance with this subchapter, of a combination of techniques, including grappling, kicking, and striking, from different disciplines of martial arts. See
• mixed martial arts event: means a mixed martial arts match or two or more mixed martial arts matches held at the same location on the same or consecutive dates. See
• mixed martial arts match: includes amateur matches and exhibitions. 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.
• Motor home: means a new or used pleasure car designed to provide temporary living quarters, built into as an integral part of, or permanently attached to, a self-propelled motor vehicle chassis or van. See
• Municipal corporation: shall include a city, town, village, town school district, graded school district, or other incorporated, union, or unified school district or any entity providing educational services which is eligible to receive State aid under 16 Vt. See
• Municipality: means a city, town, or incorporated village. See
• Municipality: means a city, town, 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
• National Boxer Registry: means an entity certified by the Association of Boxing Commissions for the purpose of maintaining records for the identification of professional boxers and for tracking their records and suspensions. See
• Net revenues: shall mean revenues less cost of operation and maintenance. See
• Notarial act: means an act, whether performed with respect to a tangible or an electronic record, that a notary public may perform under the law of this State. See
• notarial certificate: means the part of, or attachment to, a notarized document that is completed by a notary public, bears the required information set forth in section 5367 of this chapter, and states the facts attested to or certified by the notary public in a particular notarization. See
• Notarial officer: means a notary public or other individual authorized to perform a notarial act

• Notary public: means an individual commissioned to perform a notarial act by the Office. See
• Nursing home: means an institution, as defined in 33 V. 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.
• Office: means the Office of Professional Regulation within the Office of the Secretary of State. See
• Office: means the Vermont Office of Professional Regulation. See
• Official stamp: means a physical image affixed to or embossed on a tangible record or an electronic image attached to or logically associated with an electronic record. See
• Older Americans Act: means the federal Older Americans Act of 1965 and regulations promulgated under the Act, as amended at any time. See
• Older persons: means individuals who have attained the age of 60 years. See
• open-space land: shall mean land without structures thereon. See
• Organizational documents: means the affiliated reinsurance company's articles of incorporation and bylaws and such other documents as shall be approved by the Commissioner. See
• Original taxable value: means the total valuation as determined in accordance with 32 Vt. See
• Original taxable value: means the total valuation as determined in accordance with 32 Vt. See
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means any natural person, association, trust, or corporation with an ownership interest in a nursing home. See
• Part-time employee: shall mean an employee who works for an employer for fewer than 30 hours a week or fewer than 390 hours in a calendar quarter. See
• Participant: means managers, seconds, referees, and judges in a professional boxing match. See
• Participant: means individuals who participate, directly or indirectly, in mixed martial arts matches, including managers, referees, match makers, seconds, corners, and judges. 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.
• Permit: when used as a noun, means an authorization by the Agency of Natural Resources to operate a facility regulated under 10 V. See
• Person: means any individual, partnership, association, joint stock company, corporation, government, political subdivision, governmental agency, or local governmental agency. See
• Person: means any individual, firm, partnership, joint venture, association, social club, fraternal organization, estate, trust, fiduciary, receiver, trustee, or corporation. See
• Person: means every natural person, association, trust, corporation, partnership, limited liability company, or other legal entity. See
• Person: means an individual, corporation, business trust, statutory trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See
• Person interested in the estate: means any person entitled to receive, or who has received, from a decedent or by reason of the death of a decedent any property or interest therein included in the decedent's estate. See
• Personal property: All property that is not real property.
• Persons with disabilities: means individual Vermonters who have functional limitations by virtue of physical, psychiatric, cognitive, or psychological conditions. See
• place of business: includes any office, clinic, facility, salon, spa, or other location not otherwise exempted under section 5404 of this chapter where a person or persons engage in the practice of massage or the practice of bodywork. See
• Pollution abatement facility operator: means a person who is licensed under this chapter, or pursuant to rules developed pursuant to this chapter, to engage in the practice of pollution abatement facility operation consistent with a permit. 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}
• Practice of pollution abatement facility operation: means the operation and maintenance of a facility regulated under 10 V. See
• 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.
• premiums: as used in this chapter means premiums, rates, or other required contributions by whatever name known. See
• Principal residence: means principal residence as defined in section 10002a of this title, together with land that is beneath or directly contiguous to the dwelling and that is transferred with the dwelling. See
• principal residence: means the principal dwelling of a person whose domicile is in the State of Vermont. See
• Probate: Proving a will
• Project: shall mean an undertaking for the acquisition, construction, reconstruction, improvement, financing, enlargement, extension, or betterment of any of the following public utility systems:

• Promoter: means a person that organizes, holds, advertises, or otherwise conducts a professional boxing match. See
• Promoter: means any person, club, corporation, or association and, in the case of a corporate promoter, includes any officer, director, employee, or stockholder thereof, who produces, arranges, or stages any mixed martial arts match. See
• Property: means real property. See
• 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
• Purchase price: means the gross consideration, exclusive of the tax hereby imposed, that is to be paid for the motor vehicle, expressed in terms of U. 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.
• Receiver: means receiver, liquidator, rehabilitator, or conservator as the context requires. See
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Rehabilitation Act: means the federal Rehabilitation Act of 1973 and regulations promulgated under the Act, as amended at any time. See
• Reinsurance contract: means a contract between a special purpose financial insurance company and a ceding insurer pursuant to which the special purpose financial insurance company agrees to provide reinsurance to the ceding insurer for risks associated with the ceding insurer's insurance or reinsurance business. See
• Reinsurance contract: means a contract between an affiliated reinsurance company and a ceding insurer pursuant to which the affiliated reinsurance company agrees to provide reinsurance to the ceding insurer. See
• Related costs: means expenses incurred and paid by the municipality, exclusive of the actual cost of constructing and financing improvements, that are directly related to the creation and implementation of the tax increment financing district, including reimbursement of sums previously advanced by the municipality for those purposes. See
• Related costs: means expenses incurred and paid by the municipality, exclusive of the actual cost of constructing and financing improvements, that are directly related to the creation and implementation of a municipal tax increment financing district, including reimbursement of sums previously advanced by the municipality for those purposes, direct municipal expenses such as departmental or personnel costs related to creating or administering the project, and audit costs allocable to the district. See
• Remotely located individual: means an individual who is not in the physical presence of the notary public who performs a notarial act under section 5379 of this chapter. See
• Rental company: means any person offering pleasure cars for rent on a short-term basis. See
• Resident: shall include all legal residents of this State and in addition thereto any person who accepts employment or engages in a trade, profession, or occupation in this State for a period of at least six months. See
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• SAF: means the Society of American Foresters. See
• said: when used by way of reference to a person or thing shall apply to the same person or thing last mentioned. See
• sale or exchange of land: shall mean any transfer of title to land for a consideration. 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
• Seasonal employee: means an employee who:

• Secretary: means the Secretary of Human Services. See
• Secretary: means the Secretary of Natural Resources or any person authorized by the Secretary (directly or indirectly by one or more redelegations of authority) to perform the functions described in this chapter. See
• selectboard: as used in this chapter , shall include the mayor and board of aldermen of a city and the president and trustees of an incorporated village. See
• Self-employed individual: means an individual who earns self- employment income. See
• Selling price: means the amount of the full actual consideration for the transfer, paid or to be paid, including the amount of any liens or encumbrances existing before the transfer and not removed. See
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sign: means , with present intent to authenticate or adopt a record:

• Signature: means a tangible symbol or an electronic signature that evidences the signing of a record. See
• Social Security Act: means the federal Social Security Act and regulations promulgated under the Act, as amended at any time. See
• Society: means a fraternal benefit society. See
• Special purpose financial insurance company: means a captive insurance company that has received a license from the Commissioner to operate as a special purpose financial insurance company pursuant to this subchapter. See
• Special purpose financial insurance company security: means :

• Stamping device: means :

• State: means any state, territory, or possession of the United States, the District of Columbia, and the Commonwealth of Puerto Rico. See
• State: means any state, district, or territory of the United States and the Panama Canal Zone. See
• State: means a state of the United States, the 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.
• subdivision: means a tract or tracts of land, owned or controlled by a person, that the person has partitioned or divided for the purpose of sale or transfer. See
• Subpoena: A command to a witness to appear and give testimony.
• Surplus note: means an unsecured subordinated debt obligation possessing characteristics consistent with paragraph 3 of the National Association of Insurance Commissioners Statement of Statutory Accounting Principles No. See
• sworn: shall include affirmed. See
• Tax: means the federal estate tax and the estate tax payable to this State and interest and penalties imposed in addition to the tax. See
• Taxable cost: means the purchase price as defined in subdivision (4) of this section or the taxable cost as determined under section 8907 of this title. See
• taxes: shall include tax, interest, penalties, and late fees imposed under this chapter. 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.
• Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
• Testate: To die leaving a will.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• TIF: means a tax increment financing district. See
• Title: shall include possession under a sale or purchase that reserves title as security to the seller. See
• Title to property: includes :

• town: shall mean village or city. See
• 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
• Town clerk: means any town clerk, city clerk, county clerk, or other official whose duty it is to record deeds of property. See
• Transfer: means every sale or change of ownership of a Vermont nursing home owned by the transferor during the entire 12-year period immediately preceding the change in ownership and providing services to the State under a contract during the entire period, after which transfer the home will continue in operation. See
• Transfer: includes a grant, assignment, conveyance, will, trust, decree of court, transfer or acquisition of a direct or indirect controlling interest in any person with title to property, or any other means of transferring title to property or vesting title to property in any person. See
• Transfer: shall include the sale and every other and different mode, direct or indirect, of disposing of or of parting with property or with an interest therein, or with the possession thereof or of fixing a lien upon property or upon an interest therein, absolutely or conditionally, voluntarily, by or without judicial proceedings. See
• Transferor: means the owner of a nursing home who by the transfer has been divested of an ownership interest in the home. See
• 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.
• Underlying land: means the land from which timber or timber rights have been separated, whether subdivided or not. See
• Value: means :

• Venue: The geographical location in which a case is tried.
• Verification on oath or affirmation: means a declaration, made by an individual on oath or affirmation before a notary public, that a statement in a record is true. See
• Village: shall mean an incorporated village. See
• Wages: means payments that are included in the definition of wages set forth in 26 U. See