Banking related service allowing a company to drop its deposit in a postal box where the bank will obtain the deposit and post it to the company’s bank account(s). Typically this service is rather secure and only provide to a company depositing large amount of money on a regular basis.
Category: L
LOCKED MARKET
LOCKING UP A JURY
LOCKMAN
LOCKOUT
Employment action. An entity stops or withholds work. The work force is not allowed on entity property during this condition. It is a reverse strike by entity management, intended to compel an entity-favorable settlement to a labor dispute. When several employers in concert conduct a lock out action, it is known as a joint lockout. Also known as shut out.
LOCAL TAXES
Taxes due in a local jurisdiction that are in addition to state and federal taxes. Property, sales, water, sewer, school, and occasionally, income taxes are all types of local taxes. Generated monies from this pays for some community services. Public schools and related expenses are a typical example. Also known as municipal taxes.