Terms Used In California Codes > Insurance Code > Division 2 > Part 6 > Chapter 2A - Mortgage Guaranty Insurance

• 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.
• Agency: means the Labor and Workforce Development Agency. See California Labor Code 18.5
• Agreement: includes , but is not limited to, agreements providing for valuations, appraisals, and similar proceedings and agreements between employers and employees or between their respective representatives. See California Code of Civil Procedure 1280
• 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.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• 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.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Award: includes , but is not limited to, an award made pursuant to an agreement not in writing. See California Code of Civil Procedure 1280
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• 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}
• bus: is a ny vehicle, including a trailer bus, designed, used, or maintained for carrying more than 15 persons including the driver. See California Vehicle Code 233
• business: includes a proprietorship, partnership, corporation, and any other form of commercial enterprise. See California Vehicle Code 234
• City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
• Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• 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
• Contract: A legal written agreement that becomes binding when signed.
• Controversy: means any question arising between parties to an agreement whether the question is one of law or of fact or both. See California Code of Civil Procedure 1280
• County: includes every county and city and county within this State. See California Vehicle Code 270
• County: includes "city and county. See California Labor Code 14
• County: includes city and county. See California Public Utilities Code 18
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Motor Vehicles except, when used in Chapter 2 (commencing with Section 2100) of Division 2 and in Divisions 11 (commencing with Section 21000), 12 (commencing with Section 24000), 13 (commencing with Section 29000), 14 (commencing with Section 31600), 14. See California Vehicle Code 290
• Department: means Department of Industrial Relations. See California Labor Code 19
• Dependent: A person dependent for support upon another.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Director: means Director of Industrial Relations. See California Labor Code 20
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• driver: is a person who drives or is in actual physical control of a vehicle. See California Vehicle Code 305
• employer: means :

  California Labor Code 3300

• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Executor: A male person named in a will to carry out the decedent
• Factory-built housing: is a structure as defined in §. See California Vehicle Code 321
• 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.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• General public paratransit vehicle: means any motor vehicle designed for carrying no more than 24 persons and the driver, that provides local transportation to the general public, including transportation of pupils at or below the 12th-grade level to or from a public or private school or school activity, under the exclusive jurisdiction of a publicly owned and operated transit system through one of the following modes: dial-a-ride, subscription service, or route-deviated bus service. See California Vehicle Code 336
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• golf cart: is a motor vehicle having not less than three wheels in contact with the ground, having an unladen weight less than 1,300 pounds, which is designed to be and is operated at not more than 15 miles per hour and designed to carry golf equipment and not more than two persons, including the driver. See California Vehicle Code 345
• 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.
• Highway: is a way or place of whatever nature, publicly maintained and open to the use of the public for purposes of vehicular travel. See California Vehicle Code 360
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• injury: as used in this division , includes cancer, including leukemia, that develops or manifests itself during a period in which any member described in subdivision (a) is in the service of the department or unit, if the member demonstrates that he or she was exposed, while in the service of the department or unit, to a known carcinogen as defined by the International Agency for Research on Cancer, or as defined by the director. See California Labor Code 3212.1
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Manufactured home: is a manufactured home, as defined in §. See California Vehicle Code 387
• Mobilehome: is a structure as defined in §. See California Vehicle Code 396
• 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: The written agreement pledging property to a creditor as collateral for a loan.
• 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}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• motor vehicle: includes a recreational vehicle as that term is defined in subdivision (a) of §. See California Vehicle Code 415
• motor-driven cycle: is a ny motorcycle with a motor that displaces less than 150 cubic centimeters. See California Vehicle Code 405
• motorcycle: is a motor vehicle having a seat or saddle for the use of the rider, designed to travel on not more than three wheels in contact with the ground. See California Vehicle Code 400
• motortruck: is a motor vehicle designed, used, or maintained primarily for the transportation of property. See California Vehicle Code 410
• nonrepairable vehicle: is a vehicle of a type otherwise subject to registration that meets the criteria specified in subdivision (a), (b), or (c). See California Vehicle Code 431
• 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.
• Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
• owner: is a person having all the incidents of ownership, including the legal title of a vehicle whether or not such person lends, rents, or creates a security interest in the vehicle. See California Vehicle Code 460
• paratransit vehicle: is a passenger vehicle, other than a bus, schoolbus, school pupil activity bus, youth bus, general public paratransit vehicle, or taxicab that is both of the following:

  California Vehicle Code 462

• Party to the arbitration: means a party to the arbitration agreement, including any of the following:

  California Code of Civil Procedure 1280

• passenger vehicle: is a ny motor vehicle, other than a motortruck, truck tractor, or a bus, as defined in Section 233, and used or maintained for the transportation of persons. See California Vehicle Code 465
• Permanent partial disability: means a permanent disability with a rating of less than 100 percent permanent disability. See California Labor Code 4452.5
• Permanent total disability: means a permanent disability with a rating of 100 percent permanent disability only. See California Labor Code 4452.5
• 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
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Labor Code 18
• Person: includes a corporation as well as a natural person. See California Code of Civil Procedure 17
• Person: includes a natural person, firm, copartnership, association, limited liability company, or corporation. See California Vehicle Code 470
• 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
• private school: is a ny school, whether conducted for profit or not, giving a course of training similar to that given in a public school at or below the twelfth grade, including but not limited to schools owned or operated by any church. See California Vehicle Code 492
• Property: includes both personal and real property. See California Code of Civil Procedure 17
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Road: means any existing vehicle route established before January 1, 1979, with significant evidence of prior regular travel by vehicles subject to registration pursuant to Article 1 (commencing with Section 4000) of Chapter 1 of Division 3. See California Vehicle Code 527
• rules and regulations: as used in this part , means regulations promulgated by the commission or department, as appropriate, pursuant to Chapter 3. See California Health and Safety Code 18010.5
• Salvage vehicle rebuilder: means any person who rebuilds a total loss salvage vehicle, as defined in Section 544, or a vehicle reported for dismantling pursuant to Section 11520, for subsequent resale. See California Vehicle Code 543.5
• school pupil activity bus: is a ny motor vehicle, other than a schoolbus, operated by a common carrier, or by and under the exclusive jurisdiction of a publicly owned or operated transit system, or by a passenger charter-party carrier, used under a contractual agreement between a school and carrier to transport school pupils at or below the 12th-grade level to or from a public or private school activity, or used to transport pupils to or from residential schools, when the pupils are received and discharged at off-highway locations where a parent or adult designated by the parent is present to accept the pupil or place the pupil on the bus. See California Vehicle Code 546
• schoolbus: is a motor vehicle designed, used, or maintained for the transportation of any school pupil at or below the 12th grade level to or from a public or private school or to or from public or private school activities, except the following:

  California Vehicle Code 545

• 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.
• Sheriff: includes "marshal. See California Labor Code 25
• Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
• Spouse: includes "registered domestic partner" as required by §. See California Labor Code 12.2
• Spouse: includes "registered domestic partner" as required by §. See California Code of Civil Procedure 17
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
• Statute: A law passed by a legislature.
• Street: is a way or place of whatever nature, publicly maintained and open to the use of the public for purposes of vehicular travel. See California Vehicle Code 590
• Subpoena: A command to a witness to appear and give testimony.
• subscription: includes mark when the signer or subscriber cannot 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 Public Utilities Code 16
• Summons: Another word for subpoena used by the criminal justice system.
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Total loss salvage vehicle: means either of the following:

  California Vehicle Code 544

• traffic: includes pedestrians, ridden animals, vehicles, street cars, and other conveyances, either singly or together, while using any highway for purposes of travel. See California Vehicle Code 620
• trailer: includes a semitrailer when used in conjunction with an auxiliary dolly, if the auxiliary dolly is of a type constructed to replace the function of the drawbar and the front axle or axles of a trailer. See California Vehicle Code 630
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• vehicle: is a device by which any person or property may be propelled, moved, or drawn upon a highway, excepting a device moved exclusively by human power or used exclusively upon stationary rails or tracks. See California Vehicle Code 670
• Violation: includes a failure to comply with any requirement of the code. See California Labor Code 22
• Will: includes codicil. See California Code of Civil Procedure 17
• Writing: includes printing and typewriting. See California Code of Civil Procedure 17
• youth bus: is a ny bus, other than a schoolbus, designed for and when actually carrying not more than 16 persons and the driver, used to transport children at or below the 12th-grade level directly from a public or private school to an organized nonschool-related youth activity within 25 miles of the school or directly from a location which provides the organized nonschool-related youth activity to a public or private school within 25 miles of that location. See California Vehicle Code 680