Definition from Nolo’s Plain-English Law Dictionary
1) To reinvest funds from a tax-deferred account or maturing security into a similar account or security. For example, moving money from one individual retirement account (IRA) to another IRA, or from a qualified retirement plan into an IRA. 2) To defer or postpone payment of an obligation, such as a loan that gives the borrower the option to renew the terms on maturity.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:23 pm