Texas Insurance Code Chapter 564 – Disclosures for the Sale of Certain Occupational Insurance Policies
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Terms Used In Texas Insurance Code Chapter 564 - Disclosures for the Sale of Certain Occupational Insurance Policies
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Donor: The person who makes a gift.
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- 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.
- Property: means real and personal property. See Texas Government Code 311.005
- 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.
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Statute: A law passed by a legislature.
- Trustee: A person or institution holding and administering property in trust.