Terms Used In California Codes > Insurance Code > Division 2 > Part 4 > Chapter 2 - Other Casualty Insurers on Reserve Basis; Capital Requirements and Permitted Insurances

• 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}
• 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
• Trust: includes the following:

  California Probate Code 82

• Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by a court. See California Probate Code 84
• Trustee: A person or institution holding and administering property in trust.