Terms Used In California Codes > Insurance Code > Division 2 > Part 2 > Chapter 14 > Article 1 - Authority and Requirements to Convert

• Adoption date: means the date the board of directors adopts the plan of conversion. See California Insurance Code 11535.1
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• 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.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Certificate: means a document signed by the examining physician and surgeon who is licensed under Chapter 5 (commencing with Section 2000) of Division 2 of . See California Health and Safety Code 121480
• Certificate: as used in this chapter , means a document signed by the examining physician and surgeon who is licensed under Chapter 5 (commencing with Section 2000) of Division 2 of . See California Health and Safety Code 121525
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Contract: A legal written agreement that becomes binding when signed.
• Converted company: means the converted insurer or converted mutual holding company, as the case may be. See California Insurance Code 11535.1
• Converted insurer: means the incorporated stock insurer into which a mutual insurer has been converted or merged or redomiciled in accordance with the provisions of this chapter. See California Insurance Code 11535.1
• Converted mutual holding company: means the stock corporation into which a mutual holding company has been converted in accordance with this chapter. See California Insurance Code 11535.1
• Converting mutual life company: means , for a plan of conversion under this chapter, the mutual life insurer or mutual holding company that is converting under such a plan. See California Insurance Code 11535.1
• 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.
• County: includes city and county. See California Health and Safety Code 14
• County: includes "city and county. See California Insurance Code 14
• department: means State Department of Health Services. See California Health and Safety Code 20
• Department: means State Department of Health Services. See California Health and Safety Code 121480
• Dependent: A person dependent for support upon another.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
• Effective date: means , for the conversion of a mutual life insurer, the date upon which the conversion of the mutual life insurer is effective, as specified in the commissioner's amendment to the mutual life insurer's certificate of authority issued in accordance with Section 11542, as a result of conversion proceedings under this chapter. See California Insurance Code 11535.1
• Eligible members: means , for the conversion of a mutual life insurer, the members of the mutual life insurer who are of record on the mutual life insurer's adoption date. See California Insurance Code 11535.1
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
• Governing authority: means the governing board of each school district or the authority of each other private or public institution responsible for the operation and control of the institution or the principal or administrator of each school or institution. See California Health and Safety Code 121480
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means a person who, by the records of the mutual company and by its articles of incorporation or bylaws, is deemed to be a holder of a membership interest in the mutual company. See California Insurance Code 11535.1
• Membership interests: means the interests of members arising under this code and the articles of incorporation and bylaws of the mutual company or otherwise by law. See California Insurance Code 11535.1
• Mutual company: means , in the case of a plan of conversion, the mutual life insurer, mutual property-casualty insurer, or mutual holding company that is converting pursuant to such plan. See California Insurance Code 11535.1
• Mutual holding company: means a corporation organized under the laws of this state subject to the General Corporation Law as set forth in the Corporations Code. See California Insurance Code 11535.1
• Mutual insurer: means , in the case of a plan of conversion under this chapter, the mutual life insurer or mutual property-casualty insurer that is converting pursuant to such plan. See California Insurance Code 11535.1
• Mutual life insurer: means a domestic incorporated mutual life insurer, or domestic mutual life and disability insurer, that issues nonassessable policies on a reserve basis. See California Insurance Code 11535.1
• 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.
• 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 any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
• Person: means an individual, partnership, firm, association, corporation, joint-stock company, limited liability company, trust, government or governmental agency, state or political subdivision of a state, public or private corporation, board, association, estate, trustee, or fiduciary, or any similar entity. See California Insurance Code 11535.1
• Personal property: All property that is not real property.
• plan: means a plan adopted by a mutual company in compliance with this chapter. See California Insurance Code 11535.1
• Policy: means an individual or group policy of insurance issued by a life insurer. See California Insurance Code 11535.1
• Policyholder: means the holder of a policy other than a reinsurance contract. See California Insurance Code 11535.1
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Quorum: The number of legislators that must be present to do business.
• Rights in surplus: includes rights of members of the insurer to a distribution of surplus in liquidation or conservation of the insurer under this code, or in a dissolution or winding up. See California Insurance Code 11535.1
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Stock holding company: means a corporation authorized to issue one or more classes of capital stock, the corporate purposes of which include holding all of the voting stock in an insurer that has been converted from a mutual life insurer to a stock life insurer in proceedings under Section 11537. See California Insurance Code 11535.1
• subscription: includes mark when the signer or subscriber can not write, such signer's or subscriber's name being written near the mark by a witness who writes his own name near the signer's or subscriber's name. See California Insurance Code 18
• Trustee: A person or institution holding and administering property in trust.
• Voting stock: means securities of any class or any ownership interest having voting power for the election of directors, trustees, or management of a person, other than securities having voting power only because of the occurrence of a contingency. See California Insurance Code 11535.1
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.