Terms Used In West Virginia Code > Chapter 29 > Article 22B > Part 10 - Conditions for Sale or Lease

• Accumulated contributions: means the sum of the amounts deducted from the compensation of a member and credited to his or her individual account in a state system, together with interest, if any, credited thereto. See West Virginia Code 5-13-2
• 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.
• 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: means the annuity payable by a state system. See West Virginia Code 5-13-2
• 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
• 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.
• 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.
• Deaf: means severe to profound impairment of the sense of hearing whereby the understanding of speech is unattainable through the ear alone with or without amplification, and visual communication is used as the primary mode of communication. See West Virginia Code 5-14-2
• Devise: To gift property by will.
• Ex officio: Literally, by virtue of one's office.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Hard of hearing: means significant impairment to the sense of hearing, but not to the extent that the person must rely primarily on visual communication. See West Virginia Code 5-14-2
• in writing: includes any representation of words, letters, or figures, whether by printing, engraving, writing, or otherwise. See West Virginia Code 2-2-10
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Member: means a member of either the West Virginia Public Employees Retirement System or the State Teachers Retirement System. See West Virginia Code 5-13-2
• Public final average salary: means a member'. See West Virginia Code 5-13-2
• Public system: means the West Virginia Public Employees Retirement System established in article ten of this chapter. See West Virginia Code 5-13-2
• Quorum: The number of legislators that must be present to do business.
• State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
• State system: means the West Virginia Public Employees Retirement System and the State Teachers Retirement System. See West Virginia Code 5-13-2
• Teacher final average salary: means a member'. See West Virginia Code 5-13-2
• Teacher system: means the State Teachers Retirement System established in article seven-a, chapter . See West Virginia Code 5-13-2
• video lottery license: means authorization granted by the commission pursuant to this article to a person permitting that person to engage in the activity for which the license was issued. See West Virginia Code 29-22B-314