NON-RESIDENT

One who is not a dweller within some jurisdiction in question; not an inhabitant of the state of the forum. Gardner v. Meeker, 1G!) 111. 40, 48 N. E. 307; Nagel v. Looinis, 33 Neb. 499, 50 N. Y. 441; Morgan v. Nunes, 54 Miss. 310. For the distinction between “residence” and “domicile,” see DOMICILE.

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NON-RESIDENT COMPANY

A company that is located in an area which is given the status of a nonresident for tax purposes.

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NON-RESIDENTIAL MORTGAGE

A loan that is used to purchase nonresidential property such as an office building or a factory.

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NON-RESIDENTIO PRO CLERICO REGIS

A writ, addressed to a bishop, charging him not to molest a clerk employed in the royal service, by reason of his non- residence; iu which case he is to be discharged. Reg. Orig. 5S. Non respondebit minor nisi in causa dotis, et hoc pro favore doti. 4 Coke, 71. A minor shall not answer unless in a cas* of dower, and this in favor of dower.

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NON-RESPONSE BID

A bid that fails to satisfy the specifications of an invitation to propose, bid,etc.

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NON-PROFIT SERVICES

Services aimed at the public that are carried out by nonprofit organizations.

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NON-PURPOSE LOAN

A loan whose collateral is securites. The margin rule is not used to acquire more securities.

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NON-QUALIFIED DEFERRED COMPENSATION (NQDC)

A retirement contribution that the employee has earned, but which is yet to be paid by the employer. It is not taxable as it has yet to be received. Employees with high salaries are beneficiaries of this compensation due to the limit imposed on standard pension and tax qualified profit sharing plans. As such compensations do have the same tax benefits as a qualified retirement plan, they are referred to as ‘non-qualified’.

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NON-QUALIFIED RETIREMENT PLAN

A retirement plan that does not meet the IRS requirement for tax treatments, and as such they do are not considered to be a qualified retirement plan.

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NON-QUALIFIED STOCK OPTION

Sometimes referred to as a NonStatutory Stock Option, these easy to set up and administer plans offer employer sponsored stock options. However, they are inferior to the incentive stock option plan as they do not provide tax advantages.

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