California Codes > Health and Safety Code > Division 13 > Part 2 > Chapter 1 – Definitions
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In California Codes > Health and Safety Code > Division 13 > Part 2 > Chapter 1 - Definitions
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contingency reserve: means an additional premium reserve established for the protection of policyholders against the effect of adverse economic cycles. See California Insurance Code 12640.02
- County: includes "city and county. See California Insurance Code 14
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Director: means "State Director of Health Services. See California Health and Safety Code 21
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Grantor: The person who establishes a trust and places property into it.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: includes a trust deed, "mortgagor" includes a trustor under such trust deed, "mortgagee" includes a beneficiary under such trust deed, or a trustee exercising powers or performing duties granted to or imposed upon him thereunder, and "lien" in respect to real or personal property includes a charge or incumbrance arising out of a trust deed. See California Insurance Code 29
- Mortgage guaranty insurance: means :
California Insurance Code 12640.02
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- Personal property: All property that is not real property.
- Policyholders surplus: means the aggregate of capital, surplus, and contingency reserve. See California Insurance Code 12640.02
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Service of process: The service of writs or summonses to the appropriate party.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC