Sections
Subchapter A Meetings 6.001 – 6.003
Subchapter B Notice of Meetings 6.051 – 6.053
Subchapter C Record Dates 6.101 – 6.103
Subchapter D Voting of Ownership Interests 6.151 – 6.157
Subchapter E Action by Written Consent 6.201 – 6.205
Subchapter F Voting Trusts and Voting Agreements 6.251 – 6.302

Terms Used In Texas Business Organizations Code Chapter 6 - Meetings and Voting for Domestic Entities

  • Accommodation: means any apartment, condominium or cooperative unit, hotel or motel room, cabin, lodge, or other private or commercial structure that:
    (A) is affixed to real property;
    (B) is designed for occupancy or use by one or more individuals; and
    (C) is part of a timeshare plan. See Texas Property Code 221.002
  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Advertisement: means any written, oral, or electronic communication that is directed to or targeted at individuals in this state and contains a promotion, inducement, or offer to sell a timeshare interest, including a promotion, inducement, or offer to sell:
    (A) contained in a brochure, pamphlet, or radio or television transcript;
    (B) communicated by electronic media or telephone; or
    (C) solicited through direct mail. See Texas Property Code 221.002
  • 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.
  • Affidavit: means a statement in writing of a fact or facts signed by the party making it, sworn to before an officer authorized to administer oaths, and officially certified to by the officer under his seal of office. See Texas Government Code 312.011
  • 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.
  • 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.
  • Allegation: something that someone says happened.
  • 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
  • Amenities: means all common areas and includes recreational and maintenance facilities of the timeshare plan. See Texas Property Code 221.002
  • 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.
  • 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.
  • 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.
  • Association: means the unit owners' association organized under § 82. See Texas Property Code 82.003
  • Association: means a council or association composed of all persons who have purchased a timeshare interest. See Texas Property Code 221.002
  • 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
  • Board: means the governing body of a timeshare association designated in a project instrument to act on behalf of the association. See Texas Property Code 221.002
  • Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
  • Catch: means take or kill and includes an attempt to take or kill. See Texas Parks and Wildlife Code 1.101
  • Certificate of formation: means :
    (A) the document required to be filed with the filing officer under Chapter 3 to form a filing entity; and
    (B) if appropriate, a restated certificate of formation and all amendments of an original or restated certificate of formation. See Texas Business Organizations Code 1.002
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Commission: means the Texas Real Estate Commission. See Texas Property Code 221.002
  • 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
  • Component site: means a specific geographic location where accommodations that are part of a multisite timeshare plan are located. See Texas Property Code 221.002
  • 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
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Conversion building: means a building that at any time before creation of the condominium was occupied wholly or partially by persons other than purchasers and persons who occupy with the consent of purchasers. See Texas Property Code 82.003
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • 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
  • 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
  • Dependent: A person dependent for support upon another.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Developer: means :
    (A) any person, excluding a sales agent, who creates a timeshare plan or is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests; or
    (B) any person who succeeds in the developer's interest by sale, lease, assignment, mortgage, or other transfer if the person:
    (i) offers at least 12 timeshare interests in a particular timeshare plan; and
    (ii) is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests. See Texas Property Code 221.002
  • 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.
  • 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
  • disposition: means a voluntary transfer of any legal or equitable timeshare interest but does not include the transfer or release of a real estate lien or of a security interest. See Texas Property Code 221.002
  • Domestic: means , with respect to an entity, that the entity is formed under this code or the entity's internal affairs are governed by this code. See Texas Business Organizations Code 1.002
  • Domestic entity: means an organization formed under or the internal affairs of which are governed by this code. See Texas Business Organizations Code 1.002
  • Donor: The person who makes a gift.
  • 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
  • Electronic transmission: means a form of communication, including communication by use of or participation in one or more electronic data systems, that:
    (A) does not directly involve the physical transmission of paper;
    (B) creates a record that may be retained, retrieved, and reviewed by the recipient; and
    (C) may be directly reproduced in paper form by the recipient through an automated process. See Texas Business Organizations Code 1.002
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
  • 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.
  • Escrow agent: means a bonded escrow company, a financial institution whose accounts are insured by a governmental agency or instrumentality, or an attorney or title insurance agent licensed in this state who is responsible for the receipt and disbursement of funds in accordance with this chapter. See Texas Property Code 221.002
  • Ex officio: Literally, by virtue of one's office.
  • Exchange company: means any person who owns or operates an exchange program. See Texas Property Code 221.002
  • Exchange disclosure statement: means a written statement that includes the information required by § 221. See Texas Property Code 221.002
  • Exchange program: means any method, arrangement, or procedure for the voluntary exchange of timeshare interests among purchasers or owners. See Texas Property Code 221.002
  • 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.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Filing entity: means a domestic entity that is a corporation, limited partnership, limited liability company, professional association, cooperative, or real estate investment trust. See Texas Business Organizations Code 1.002
  • Filing instrument: means an instrument, document, consent, or statement that is required or authorized by this code to be filed by or for an entity with the filing officer in accordance with Chapter 4. See Texas Business Organizations Code 1.002
  • Filing officer: means :
    (A) with respect to an entity other than a domestic real estate investment trust, the secretary of state; or
    (B) with respect to a domestic real estate investment trust, the county clerk of the county in which the real estate investment trust's principal office is located in this state. See Texas Business Organizations Code 1.002
  • Foreign: means , with respect to an entity, that the entity is formed under, and the entity's internal affairs are governed by, the laws of a jurisdiction other than this state. See Texas Business Organizations Code 1.002
  • Fraud: Intentional deception resulting in injury to another.
  • General common elements: means common elements that are not limited common elements. See Texas Property Code 82.003
  • Governing authority: means a person or group of persons who are entitled to manage and direct the affairs of an entity under this code and the governing documents of the entity, except that if the governing documents of the entity or this code divide the authority to manage and direct the affairs of the entity among different persons or groups of persons according to different matters, "governing authority" means the person or group of persons entitled to manage and direct the affairs of the entity with respect to a matter under the governing documents of the entity or this code. See Texas Business Organizations Code 1.002
  • Governing documents: means :
    (A) in the case of a domestic entity:
    (i) the certificate of formation for a domestic filing entity or the document or agreement under which a domestic nonfiling entity is formed; and
    (ii) the other documents or agreements adopted by the entity under this code to govern the formation or the internal affairs of the entity; or
    (B) in the case of a foreign entity, the instruments, documents, or agreements adopted under the law of its jurisdiction of formation to govern the formation or the internal affairs of the entity. See Texas Business Organizations Code 1.002
  • Governing person: means a person serving as part of the governing authority of an entity. See Texas Business Organizations Code 1.002
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • 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
  • Incidental use right: means the right to use accommodations and amenities at one or more timeshare properties that is not guaranteed and is administered by the managing entity of the timeshare properties that makes vacant accommodations at the timeshare properties available to owners of timeshare interests in the timeshare properties. See Texas Property Code 221.002
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Inter vivos: Transfer of property from one living person to another living person.
  • 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
  • Intestate: Dying without leaving a will.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Law: means , unless the context requires otherwise, both statutory and common law. See Texas Business Organizations Code 1.002
  • 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.
  • 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
  • Licensed practitioner: includes a sex offender treatment provider who is licensed under Chapter 110, Occupations Code. See Texas Health and Safety Code 1.005
  • Limited common element: means a portion of the common elements allocated by the declaration or by operation of § 82. See Texas Property Code 82.003
  • Limited liability company: means an entity governed as a limited liability company under Title 3 or 7. See Texas Business Organizations Code 1.002
  • Limited partnership: means a partnership that is governed as a limited partnership under Title 4 and that has one or more general partners and one or more limited partners. See Texas Business Organizations Code 1.002
  • Managerial official: means an officer or a governing person. See Texas Business Organizations Code 1.002
  • Managing entity: means the person responsible for operating and maintaining a timeshare property. See Texas Property Code 221.002
  • 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
  • Member: means :
    (A) in the case of a limited liability company, a person who has become, and has not ceased to be, a member in the limited liability company as provided by its governing documents or this code;
    (B) in the case of a nonprofit corporation, a person who has membership rights in the nonprofit corporation under its governing documents;
    (C) in the case of a cooperative association, a member of a nonshare or share association;
    (D) in the case of a nonprofit association, a person who has membership rights in the nonprofit association under its governing documents; or
    (E) in the case of a professional association, a person who has membership rights in the professional association under its governing documents. See Texas Business Organizations Code 1.002
  • Membership interest: means a member's interest in an entity. See Texas Business Organizations Code 1.002
  • 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.
  • Multisite timeshare plan: means a plan in which a timeshare purchaser has:
    (A) a specific timeshare interest, which is the right to use and occupy accommodations at a specific timeshare property and the right to use and occupy accommodations at one or more other component sites created by or acquired solely through the reservation system of the timeshare plan; or
    (B) a nonspecific timeshare interest, which is the right to use and occupy accommodations at more than one component site created by or acquired solely through the reservation system of the timeshare plan but which does not include a right to use and occupy a particular accommodation. See Texas Property Code 221.002
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • offer: means any advertisement, inducement, or solicitation and includes any attempt to encourage a person to purchase a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
  • Officer: means an individual elected, appointed, or designated as an officer of an entity by the entity's governing authority or under the entity's governing documents. See Texas Business Organizations Code 1.002
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Ownership interest: means an owner's interest in an entity. See Texas Business Organizations Code 1.002
  • 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.
  • Person: means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a protected series or registered series of a domestic limited liability company or foreign entity. See Texas Business Organizations Code 1.002
  • 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 § 82. See 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.
  • 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.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Product: means a prescription drug or prescription medical device. See Texas Health and Safety Code 181.001
  • Project instrument: means a timeshare instrument or one or more recordable documents, by whatever name denominated, applying to the whole of a timeshare project and containing restrictions or covenants regulating the use, occupancy, or disposition of units in a project, including a declaration for a condominium, association articles of incorporation, association bylaws, and rules for a condominium in which a timeshare plan is created. See Texas Property Code 221.002
  • Promotion: means any program, activity, contest, or gift, prize, or other item of value used to induce any person to attend a timeshare sales presentation. See Texas Property Code 221.002
  • 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.
  • 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
  • Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
  • 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.
  • Reservation system: means the method, arrangement, or procedure by which a purchaser, in order to reserve the use and occupancy of an accommodation of a multisite timeshare plan for one or more timeshare periods, is required to compete with other purchasers in the same multisite timeshare plan, regardless of whether the reservation system is operated and maintained by the multisite timeshare plan, a managing entity, an exchange company, or any other person. See Texas Property Code 221.002
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Secretary: means the:
    (A) individual designated as secretary of an entity under the entity's governing documents; or
    (B) officer or committee of persons authorized to perform the functions of secretary of an entity without regard to the designated name of the officer or committee. See Texas Business Organizations Code 1.002
  • Sell: means to transfer the ownership or the right of possession of an item to a person for consideration and includes a barter and an even exchange. See Texas Parks and Wildlife Code 1.101
  • Single-site timeshare plan: means a timeshare plan in which a timeshare purchaser's right to use and occupy accommodations is limited to a single timeshare property. See Texas Property Code 221.002
  • 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
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Subsidiary: means an organization for which another organization, either directly or indirectly through or with one or more of its other subsidiaries:
    (A) owns at least 50 percent of the outstanding ownership or membership interests of the organization; or
    (B) possesses at least 50 percent of the voting power of the owners or members of the organization. See Texas Business Organizations Code 1.002
  • Succeeding: means immediately following. See Texas Government Code 312.011
  • Summons: Another word for subpoena used by the criminal justice system.
  • Take: except as otherwise provided by this code, means collect, hook, hunt, net, shoot, or snare, by any means or device, and includes an attempt to take or to pursue in order to take. See Texas Parks and Wildlife Code 1.101
  • 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.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Timeshare disclosure statement: means a written statement that includes the information required by § 221. See Texas Property Code 221.002
  • Timeshare estate: means an arrangement under which the purchaser receives a right to occupy a timeshare property and an estate interest in the real property. See Texas Property Code 221.002
  • Timeshare instrument: means a master deed, master lease, declaration, or any other instrument used in the creation of a timeshare plan. See Texas Property Code 221.002
  • Timeshare interest: means a timeshare estate or timeshare use. See Texas Property Code 221.002
  • Timeshare period: means the period within which the purchaser of a timeshare interest is entitled to the exclusive possession, occupancy, and use of an accommodation. See Texas Property Code 221.002
  • Timeshare plan: means any arrangement, plan, scheme, or similar method, excluding an exchange program but including a membership agreement, sale, lease, deed, license, or right-to-use agreement, by which a purchaser, in exchange for consideration, receives an ownership right in or the right to use accommodations for a period of time less than a year during a given year, but not necessarily consecutive years. See Texas Property Code 221.002
  • Timeshare property: means :
    (A) one or more accommodations and any related amenities subject to the same timeshare instrument; and
    (B) any other property or property rights appurtenant to the accommodations and amenities. See Texas Property Code 221.002
  • Timeshare use: means any arrangement under which the purchaser receives a right to occupy a timeshare property, but under which the purchaser does not receive an estate interest in the timeshare property. See Texas Property Code 221.002
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • 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.
  • 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.
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • 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.
  • Verdict: The decision of a petit jury or a judge.
  • Week: means seven consecutive days. See Texas Government Code 311.005
  • Wild: when used in reference to an animal, means a species, including each individual of a species, that normally lives in a state of nature and is not ordinarily domesticated. See Texas Parks and Wildlife Code 1.101
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • written: means an expression of words, letters, characters, numbers, symbols, figures, or other textual information that is inscribed on a tangible medium or that is stored in an electronic or other medium that is retrievable in a perceivable form. See Texas Business Organizations Code 1.002
  • Year: means 12 consecutive months. See Texas Government Code 311.005