Terms Used In Texas Insurance Code > Title 11 > Subtitle A - General Provisions
Amortization: Paying off a loan by regular installments.
Devise: To gift property by will.
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.
Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
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.