|Subchapter A||General Provisions||604.001 – 604.003|
|Subchapter B||Permissible Fees||604.051 – 604.052|
|Subchapter C||Required Disclosures||604.101 – 604.103|
|Subchapter D||Redemption of Certain Low-Value Cards||604.151 – 604.152|
Terms Used In Texas Business and Commerce Code Chapter 604
- Abstract of judgment: In a federal criminal proceeding, A certification from a U.S. District Court clerk that a judgment of restitution was entered against the defendant owing to the victim. If the defendant inherits, owns, or sells real property or holdings, these assets can then be attached at the state and local levels as well.
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- Affiliate of a declarant: means any person who controls, is controlled by, or is under common control with a declarant. See Texas Property Code 82.003
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- Allocated interests: means the undivided interest in the common elements, the common expense liability, and votes in the association allocated to each unit. See Texas Property Code 82.003
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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.
- 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
- Arrest: Taking physical custody of a person by lawful authority.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the unit owners' association organized under Section Texas Property Code 82.003
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- 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.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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
- Board: means the board of directors or the body, regardless of name, designated to act on behalf of the association. See Texas Property Code 82.003
- Common elements: means all portions of a condominium other than the units and includes both general and limited common elements. See Texas Property Code 82.003
- Common expense liability: means the liability for common expenses allocated to each unit. See Texas Property Code 82.003
- Common expenses: means expenditures made by or financial liabilities of the association, together with any allocations to reserves. See Texas Property Code 82.003
- 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.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Condominium: means a form of real property with portions of the real property designated for separate ownership or occupancy, and the remainder of the real property designated for common ownership or occupancy solely by the owners of those portions. See Texas Property Code 82.003
- Conviction: A judgement of guilt against a criminal defendant.
- Covered entity: means any person who:
(A) for commercial, financial, or professional gain, monetary fees, or dues, or on a cooperative, nonprofit, or pro bono basis, engages, in whole or in part, and with real or constructive knowledge, in the practice of assembling, collecting, analyzing, using, evaluating, storing, or transmitting protected health information. See Texas Health and Safety Code 181.001
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Declarant: means a person, or group of persons acting in concert, who:
(A) as part of a common promotional plan, offers to dispose of the person's interest in a unit not previously disposed of; or
(B) reserves or succeeds to any special declarant right. See Texas Property Code 82.003
- Declaration: means an instrument, however denominated, that creates a condominium, and any amendment to that instrument. See Texas Property Code 82.003
- Dedicatory instrument: means each document governing the establishment, maintenance, or operation of a condominium regime. See Texas Property Code 82.003
- 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.
- Dependent: A person dependent for support upon another.
- Development rights: means a right or combination of rights reserved by a declarant in the declaration to:
(A) add real property to a condominium;
(B) create units, common elements, or limited common elements within a condominium;
(C) subdivide units or convert units into common elements; or
(D) withdraw real property from a condominium. See Texas Property Code 82.003
- Devise: To gift property by will.
- Disclose: means to release, transfer, provide access to, or otherwise divulge information outside the entity holding the information. See Texas Health and Safety Code 181.001
- 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:
- Disposition: means a voluntary transfer to a purchaser of any legal or equitable interest in a unit but does not include the transfer or release of a security interest. See Texas Property Code 82.003
- District office: means an office of the federal or state government that is not voted on statewide. See Texas Election Code 1.005
- Docket: A log containing brief entries of court proceedings.
- Effects: includes all personal property and all interest in that property. See Texas Government Code 312.011
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- 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
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Ex officio: Literally, by virtue of one's office.
- Executive session: A portion of the Senate's daily session in which it considers executive business.
- 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.
- Final canvass: means the canvass from which the official result of an election is determined. See Texas Election Code 1.005
- 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
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- General common elements: means common elements that are not limited common elements. See Texas Property Code 82.003
- General election: means an election, other than a primary election, that regularly recurs at fixed dates. See Texas Election Code 1.005
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- 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.
- Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
- Health Insurance Portability and Accountability Act and Privacy Standards: means the privacy requirements in existence on September 1, 2011, of the Administrative Simplification subtitle of the Health Insurance Portability and Accountability Act of 1996 (Pub. See Texas Health and Safety Code 181.001
- Identifying number: means a symbol or address that identifies only one unit in a condominium. See Texas Property Code 82.003
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- 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
- Leasehold condominium: means a condominium in which all or a portion of the real property is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size. See Texas Property Code 82.003
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Legatee: A beneficiary of a decedent
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Limited common element: means a portion of the common elements allocated by the declaration or by operation of Section Texas Property Code 82.003
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Local canvass: means the canvass of the precinct election returns. See Texas Election Code 1.005
- Marketing: means :
(A) making a communication about a product or service that encourages a recipient of the communication to purchase or use the product or service, unless the communication is made:
(i) to describe a health-related product or service or the payment for a health-related product or service that is provided by, or included in a plan of benefits of, the covered entity making the communication, including communications about:
(a) the entities participating in a health care provider network or health plan network;
(b) replacement of, or enhancement to, a health plan; or
(c) health-related products or services available only to a health plan enrollee that add value to, but are not part of, a plan of benefits;
(ii) for treatment of the individual;
(iii) for case management or care coordination for the individual, or to direct or recommend alternative treatments, therapies, health care providers, or settings of care to the individual; or
(iv) by a covered entity to an individual that encourages a change to a prescription drug included in the covered entity's drug formulary or preferred drug list;
(B) an arrangement between a covered entity and any other entity under which the covered entity discloses protected health information to the other entity, in exchange for direct or indirect remuneration, for the other entity or its affiliate to make a communication about its own product or service that encourages recipients of the communication to purchase or use that product or service; and
(C) notwithstanding Paragraphs (A)(ii) and (iii), a product-specific written communication to a consumer that encourages a change in products. See Texas Health and Safety Code 181.001
- Measure: means a question or proposal submitted in an election for an expression of the voters' will. See Texas Election Code 1.005
- Month: means a calendar month. See Texas Government Code 312.011
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- 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
- 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.
- Personal property: All property that is not real property.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Plan: means a dimensional drawing that is recordable in the real property records or the condominium plat records and that horizontally and vertically identifies or describes units and common elements that are contained in buildings. See Texas Property Code 82.003
- Plat: means a survey recordable in the real property records or the condominium plat records and containing the information required by Section Texas Property Code 82.003
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Primary election: means an election held by a political party under Chapter Texas Election Code 1.005
- Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
- Purchaser: means a person, other than a declarant, who by means of a voluntary transfer acquires a legal or equitable interest in a unit other than a leasehold interest or as security for an obligation. See Texas Property Code 82.003
- Quorum: The number of legislators that must be present to do business.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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.
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- 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.
- Signature: includes the mark of a person unable to write, and "subscribe" includes the making of such a mark. See Texas Government Code 312.011
- Special declarant rights: means rights reserved for the benefit of a declarant to:
(A) complete improvements indicated on plats and plans filed with the declaration;
(B) exercise any development right;
(C) make the condominium part of a larger condominium or a planned community;
(D) maintain sales, management, and leasing offices, signs advertising the condominium, and models;
(E) use easements through the common elements for the purpose of making improvements within the condominium or within real property that may be added to the condominium; or
(F) appoint or remove any officer or board member of the association during any period of declarant control. See Texas Property Code 82.003
- Special election: means an election that is not a general election or a primary election. See Texas Election Code 1.005
- Statute: A law passed by a legislature.
- Subpoena: A command to a witness to appear and give testimony.
- Summons: Another word for subpoena used by the criminal justice system.
- Swear: includes affirm. See Texas Government Code 311.005
- 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.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
- Testate: To die leaving a will.
- Testify: Answer questions in court.
- 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.
- Unit: means a physical portion of the condominium designated for separate ownership or occupancy, the boundaries of which are described by the declaration. See Texas Property Code 82.003
- Unit owner: means a declarant or other person who owns a unit, or a lessee of a unit in a leasehold condominium whose lease expires simultaneously with any lease the expiration or termination of which will remove the unit from the condominium, but does not include a person having an interest in a unit solely as security for an obligation. See Texas Property Code 82.003
- Uphold: The decision of an appellate court not to reverse a lower court decision.
- Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
- Week: means seven consecutive days. See Texas Government Code 311.005
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.