Terms Used In California Codes > Insurance Code > Division 1 > Part 1 > Chapter 5 - The Premium

• 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.
• Beneficiary: means a person to whom a donative transfer of property is made or that person's successor in interest, and:

  California Probate Code 24

• 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}
• Community property: means :

  California Probate Code 28

• Conservatee: includes a limited conservatee. See California Probate Code 29
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Decedent: A deceased person.
• 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.
• Financial institution: means a state or national bank, state or federal savings and loan association or credit union, or like organization. See California Probate Code 40
• Fraud: Intentional deception resulting in injury to another.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, or other entity. See California Probate Code 56
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Savings account: has the meaning given that term in §. See California Probate Code 23
• Spouse: includes domestic partner, as defined in Section 37 of this code, as required by §. See California Probate Code 72
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}