Terms Used In Texas Insurance Code Chapter 547 > Subchapter B - Prohibition; Enforcement

• 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
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005