Terms Used In California Codes > Insurance Code > Division 2 > Part 6 > Chapter 2A > Article 4 - Limitations and Restrictions for Transacting Business

• 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
• Contract: A legal written agreement that becomes binding when signed.
• County: includes city and county. See California Health and Safety Code 14
• Deed: The legal instrument used to transfer title in real property from one person to another.
• department: means State Department of Health Services. See California Health and Safety Code 20
• 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.
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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}
• Policyholders surplus: means the aggregate of capital, surplus, and contingency reserve. See California Insurance Code 12640.02
• 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
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• 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.