Exempt Person definition: Copy, customize, and use instantly
Introduction
The term "Exempt Person" refers to an individual, entity, or organization that is not subject to certain legal, regulatory, tax, or contractual obligations due to specific criteria set forth in laws, agreements, or policies. This designation is commonly used in financial regulations, tax codes, securities laws, and contractual agreements to identify those who are excluded from specific compliance requirements, reporting duties, or payment obligations.
Below are various examples of how "Exempt Person" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Exempt Person" in a financial regulatory and anti-money laundering (AML) context
This definition ties "Exempt Person" to financial compliance exemptions.
"Exempt Person" refers to an individual or entity that is not required to comply with certain financial reporting or anti-money laundering regulations due to their status as a government agency, financial institution, or other qualifying category under applicable law.
Definition of "Exempt Person" in a tax law and fiscal exemption context
This definition connects "Exempt Person" to tax exemption eligibility.
"Exempt Person" means any individual or entity that is not subject to specific taxes, duties, or financial levies under applicable tax laws, including nonprofit organizations, government bodies, and other qualifying parties.
Definition of "Exempt Person" in a securities law and investor qualification context
This definition links "Exempt Person" to securities compliance exemptions.
"Exempt Person" refers to an individual or entity that is not required to register or comply with certain securities regulations due to exemptions under applicable laws, including accredited investors, government institutions, and qualifying corporate entities.
Definition of "Exempt Person" in a contractual liability and indemnification context
This definition applies "Exempt Person" to contractual exclusions.
"Exempt Person" means any party identified in this Agreement as not being subject to specific liabilities, indemnification requirements, or performance obligations under the terms of the contract.
Definition of "Exempt Person" in a banking and financial transactions context
This definition ties "Exempt Person" to financial institution regulations.
"Exempt Person" refers to a bank, credit union, or other qualifying financial institution that is not subject to certain transaction reporting requirements under applicable banking laws and regulations.
Definition of "Exempt Person" in a customs and import/export duty exemption context
This definition connects "Exempt Person" to trade and tariff exemptions.
"Exempt Person" means any individual or entity eligible for duty-free treatment or exemption from import/export taxes, including diplomats, government agencies, and certain nonprofit organizations.
Definition of "Exempt Person" in a nonprofit organization and charitable entity tax context
This definition links "Exempt Person" to nonprofit status.
"Exempt Person" refers to an organization or entity classified as tax-exempt under applicable laws, including registered charities, religious institutions, and nonprofit corporations.
Definition of "Exempt Person" in a government and sovereign immunity context
This definition applies "Exempt Person" to legal immunity for public entities.
"Exempt Person" means any government official, agency, or sovereign entity that is not subject to specific legal obligations, liabilities, or enforcement actions under applicable laws.
Definition of "Exempt Person" in a diplomatic immunity and foreign relations context
This definition ties "Exempt Person" to international diplomatic status.
"Exempt Person" refers to a diplomat, consular officer, or foreign representative who is granted immunity from local laws, taxation, or judicial proceedings under international treaties or agreements.
Definition of "Exempt Person" in an employment law and labor compliance context
This definition connects "Exempt Person" to employee classification exemptions.
"Exempt Person" means an employee who is not subject to certain labor law requirements, including overtime pay and minimum wage laws, due to their job classification or professional status.
Definition of "Exempt Person" in a securities registration and compliance context
This definition links "Exempt Person" to securities law exemptions.
"Exempt Person" refers to an entity or individual, such as a qualified institutional buyer (QIB) or accredited investor, that is not required to comply with certain securities registration and disclosure requirements.
Definition of "Exempt Person" in a state and local tax exemption context
This definition applies "Exempt Person" to sales and use tax exemptions.
"Exempt Person" means any individual or organization that is not required to pay state or local sales taxes on specific transactions due to their status as a government agency, nonprofit entity, or tax-exempt business.
Definition of "Exempt Person" in a corporate governance and director liability context
This definition ties "Exempt Person" to corporate officer protections.
"Exempt Person" refers to a corporate officer, director, or agent who is shielded from certain liabilities under an indemnification agreement, corporate bylaws, or applicable laws.
Definition of "Exempt Person" in a property tax and real estate exemption context
This definition connects "Exempt Person" to property tax laws.
"Exempt Person" means an individual or entity that qualifies for a property tax exemption due to their status as a government entity, nonprofit organization, or other qualifying exemption under applicable tax codes.
Definition of "Exempt Person" in a pension and retirement savings contribution context
This definition links "Exempt Person" to retirement plan rules.
"Exempt Person" refers to an individual who is not required to make mandatory contributions to a pension, retirement savings plan, or social security program under applicable laws or regulations.
Definition of "Exempt Person" in an intellectual property and royalty payment agreement context
This definition applies "Exempt Person" to IP-related exemptions.
"Exempt Person" means an individual or entity that is not required to pay or receive royalty payments under an intellectual property licensing agreement due to their status or contractual exclusion.
Definition of "Exempt Person" in a regulatory filing and compliance reporting context
This definition ties "Exempt Person" to business and financial disclosures.
"Exempt Person" refers to an individual or entity that is not required to file regulatory reports, disclosures, or periodic filings under applicable laws, such as small businesses or specific nonprofit organizations.
Definition of "Exempt Person" in a procurement and government contracting context
This definition connects "Exempt Person" to government contract compliance.
"Exempt Person" means an individual or entity that is not subject to specific procurement or contract compliance requirements, including disadvantaged business enterprise (DBE) and minority business enterprise (MBE) set-aside programs.
Definition of "Exempt Person" in a healthcare compliance and insurance mandate context
This definition links "Exempt Person" to healthcare-related exemptions.
"Exempt Person" refers to an individual or organization that is not required to carry health insurance, comply with mandatory medical licensing, or follow specific healthcare regulations due to their status under applicable laws.
Definition of "Exempt Person" in a bankruptcy and creditor priority context
This definition applies "Exempt Person" to financial restructuring.
"Exempt Person" means an individual or entity that is protected from certain creditor claims, debt collection actions, or bankruptcy proceedings under legal exemptions or protective statutes.
Definition of "Exempt Person" in a contractual liability and force majeure context
This definition ties "Exempt Person" to contract exclusions.
"Exempt Person" refers to a party that is not responsible for fulfilling specific contractual obligations due to force majeure events, legal immunity, or other qualifying conditions under the agreement.
Definition of "Exempt Person" in an educational institution and student fee waiver context
This definition connects "Exempt Person" to tuition and fee exemptions.
"Exempt Person" means a student, faculty member, or institution that qualifies for a waiver of tuition fees, enrollment costs, or other educational expenses due to financial need, veteran status, or other eligibility criteria.
Definition of "Exempt Person" in an environmental law and carbon credit compliance context
This definition links "Exempt Person" to sustainability regulations.
"Exempt Person" refers to an entity or organization that is not subject to carbon emissions reporting, sustainability regulations, or environmental compliance fees due to exemptions granted under climate policy frameworks.
Definition of "Exempt Person" in an artificial intelligence and data privacy compliance context
This definition applies "Exempt Person" to AI and digital regulations.
"Exempt Person" means an individual or company that is not required to comply with specific data privacy, artificial intelligence governance, or algorithmic transparency laws due to their industry classification or regulatory status.
Definition of "Exempt Person" in a labor union and collective bargaining agreement context
This definition ties "Exempt Person" to union membership exclusions.
"Exempt Person" refers to an employee or independent contractor who is not required to join a labor union or pay union dues under applicable labor laws, contract terms, or right-to-work statutes.
Definition of "Exempt Person" in an antitrust and competition law compliance context
This definition connects "Exempt Person" to fair competition laws.
"Exempt Person" means an entity or individual that is not subject to certain antitrust or competition law restrictions due to statutory exemptions, government-granted monopolies, or industry-specific regulations.
Definition of "Exempt Person" in a private foundation and charitable trust compliance context
This definition links "Exempt Person" to nonprofit governance.
"Exempt Person" refers to a charitable organization, trust, or private foundation that is not subject to specific financial reporting, taxation, or regulatory compliance due to its nonprofit status.
Definition of "Exempt Person" in a transportation and toll road fee exemption context
This definition applies "Exempt Person" to travel-related exemptions.
"Exempt Person" means an individual or entity, such as a government vehicle or emergency responder, that is not required to pay tolls, road fees, or congestion charges under applicable transportation laws.
Definition of "Exempt Person" in a financial services and brokerage fee waiver context
This definition ties "Exempt Person" to banking and investment services.
"Exempt Person" refers to an investor, trader, or entity that qualifies for a waiver of brokerage fees, trading commissions, or account maintenance charges based on their trading volume, professional status, or financial institution agreements.
Definition of "Exempt Person" in an artificial intelligence (AI) governance and algorithmic transparency compliance context
This definition connects "Exempt Person" to AI-related regulations.
"Exempt Person" means an organization or technology developer that is not required to comply with AI ethics, transparency, or bias mitigation regulations due to exemptions granted for research, academic use, or government applications.
Definition of "Exempt Person" in a diplomatic and consular taxation context
This definition links "Exempt Person" to foreign diplomatic privileges.
"Exempt Person" refers to a diplomat, consular official, or foreign representative who is legally exempt from local taxation, customs duties, and other fiscal obligations under international agreements.
Definition of "Exempt Person" in a property leasing and rent control context
This definition applies "Exempt Person" to real estate and tenant protections.
"Exempt Person" means a landlord, tenant, or property owner who is not subject to certain rent control, eviction moratoriums, or leasing restrictions due to legal or contractual exemptions.
Definition of "Exempt Person" in a military draft and selective service registration context
This definition ties "Exempt Person" to compulsory military service exclusions.
"Exempt Person" refers to an individual who is not required to register for military conscription or selective service due to age, disability, religious status, or other qualifying criteria under national laws.
Definition of "Exempt Person" in a blockchain and cryptocurrency tax reporting context
This definition connects "Exempt Person" to digital asset regulations.
"Exempt Person" means a cryptocurrency holder, trader, or entity that is not required to report digital asset transactions, capital gains, or blockchain-based earnings due to legal, jurisdictional, or threshold-based exemptions.
Definition of "Exempt Person" in a space exploration and aerospace industry compliance context
This definition links "Exempt Person" to space law and regulatory exceptions.
"Exempt Person" refers to an astronaut, aerospace contractor, or government agency that is not subject to specific commercial spaceflight regulations or liability requirements under international treaties.
Definition of "Exempt Person" in a cybersecurity and data protection framework compliance context
This definition applies "Exempt Person" to information security laws.
"Exempt Person" means an organization, researcher, or government entity that is not required to comply with certain cybersecurity laws, data breach notification policies, or encryption standards due to exemptions based on national security or academic research.
Definition of "Exempt Person" in a healthcare and medical licensing exemption context
This definition ties "Exempt Person" to medical industry exclusions.
"Exempt Person" refers to a medical professional, researcher, or alternative healthcare provider who is not required to obtain specific medical licenses, certifications, or malpractice insurance under regulatory exemptions.
Definition of "Exempt Person" in a social security and pension contribution exemption context
This definition connects "Exempt Person" to retirement fund rules.
"Exempt Person" means an employee, employer, or self-employed individual who is not required to contribute to social security, pension funds, or state retirement systems due to age, income, or occupation-based exemptions.
Definition of "Exempt Person" in a university tuition and student fee waiver program context
This definition links "Exempt Person" to educational financial aid programs.
"Exempt Person" refers to a student, faculty member, or academic staff member who qualifies for a waiver of tuition fees, student loan payments, or educational expenses under institutional policies or government assistance programs.
Definition of "Exempt Person" in a labor dispute and employment termination exemption context
This definition applies "Exempt Person" to workplace legal protections.
"Exempt Person" means an employer, contractor, or worker who is not subject to certain employment termination laws, severance pay obligations, or wrongful dismissal claims due to contractual or statutory exemptions.
Definition of "Exempt Person" in an aviation and airline security clearance exemption context
This definition ties "Exempt Person" to travel industry regulations.
"Exempt Person" refers to an airline crew member, government official, or military personnel who is not subject to routine security screenings, visa requirements, or travel restrictions under applicable aviation laws.
Definition of "Exempt Person" in an entertainment and media censorship exemption context
This definition connects "Exempt Person" to creative industry protections.
"Exempt Person" means a journalist, filmmaker, or content creator who is not required to comply with censorship laws, content rating regulations, or broadcasting restrictions due to constitutional protections or press freedom laws.
Definition of "Exempt Person" in a global tax treaty and cross-border income taxation context
This definition links "Exempt Person" to international tax laws.
"Exempt Person" refers to an individual or entity that is not subject to double taxation, withholding taxes, or cross-border financial reporting due to treaty protections or foreign residency exemptions.
Definition of "Exempt Person" in a lottery winnings and gambling tax exemption context
This definition applies "Exempt Person" to gaming and wagering laws.
"Exempt Person" means a lottery winner, casino patron, or betting participant who is not required to pay taxes on winnings, gambling proceeds, or prize money due to specific legal exemptions or jurisdictional rules.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.