Terms Used In California Codes > Probate Code > Division 7 > Part 2 > Chapter 4 > Article 7 - Changes in Administration

• Authority: means the California Earthquake Authority. See California Insurance Code 10089.5
• Available capital: includes all interest or other income from the investment of money held in the California Earthquake Authority Fund. See California Insurance Code 10089.5
• Basic residential earthquake insurance: means that policy of residential earthquake insurance described in Section 10089 except as follows:

  California Insurance Code 10089.5

• Board: means the governing board of the authority. See California Insurance Code 10089.5
• Bonds: means bonds, notes, commercial paper, variable rate and variable maturity securities, and any other evidence of indebtedness. See California Insurance Code 10089.5
• Claim: means a demand for payment for any of the following, whether due, not due, accrued or not accrued, or contingent, and whether liquidated or unliquidated:

  California Probate Code 9000

• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Decedent: A deceased person.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nonparticipating insurer: means an insurer that elects not to transfer or place any residential earthquake policies in the authority. See California Insurance Code 10089.5
• 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.
• Panel: means the advisory panel of the authority. See California Insurance Code 10089.5
• Participating insurer: means an insurer that has elected to join the authority. See California Insurance Code 10089.5
• 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
• Personal representative: means executor, administrator, administrator with the will annexed, special administrator, successor personal representative, public administrator acting pursuant to Section 7660, or a person who performs substantially the same function under the law of another jurisdiction governing the person's status. See California Probate Code 58
• Policy of residential property insurance: means those policies described in Section 10087. See California Insurance Code 10089.5
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Qualifying residential property: includes all those residential dwellings set forth in Section 10087. See California Insurance Code 10089.5
• Residential property insurance market share: means an individual insurer's total gross premiums received for residential property insurance policies written or renewed by the insurer, divided by the total gross premiums received by all admitted insurers for residential property insurance in California. See California Insurance Code 10089.5
• Revenue: means all income and receipts of the authority, including, but not limited to, income and receipts derived from premiums, bond purchase agreements, capital contributions by insurers, assessments levied on insurers, surcharges applied to authority earthquake policyholders, and all interest or other income from investment of money in any fund or account of the authority established for the payment of principal or interest, or premiums on bonds, including reserve funds. See California Insurance Code 10089.5
• 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.
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Trustee: A person or institution holding and administering property in trust.
• Will: includes codicil and any testamentary instrument which merely appoints an executor or revokes or revises another will. See California Probate Code 88