Terms Used In Texas Insurance Code Chapter 651 - Financing of Insurance Premiums

• 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.
• 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.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• 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.
• County election precinct: means an election precinct established under § 42. See Texas Election Code 1.005
• District office: means an office of the federal or state government that is not voted on statewide. See Texas Election Code 1.005
• Donor: The person who makes a gift.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Final canvass: means the canvass from which the official result of an election is determined. See Texas Election Code 1.005
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• 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.
• in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
• 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}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Law: means a constitution, statute, city charter, or city ordinance. See Texas Election Code 1.005
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local canvass: means the canvass of the precinct election returns. See Texas Election Code 1.005
• 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
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Oath: includes affirmation. See Texas Government Code 311.005
• Oath: A promise to tell the truth.
• 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.
• Political subdivision: means a county, city, or school district or any other governmental entity that:
  (A) embraces a geographic area with a defined boundary;
  (B) exists for the purpose of discharging functions of government; and
  (C) possesses authority for subordinate self-government through officers selected by it. See Texas Election Code 1.005
• Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
• 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}
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Primary election: means an election held by a political party under Chapter 172 to select its nominees for public office, and, unless the context indicates otherwise, the term includes a presidential primary election. See Texas Election Code 1.005
• Probate: Proving a will
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Proposition: means the wording appearing on a ballot to identify a measure. See Texas Election Code 1.005
• Registered voter: means a person registered to vote in this state whose registration is effective. See Texas Election Code 1.005
• 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
• Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
• Special election: means an election that is not a general election or a primary election. See Texas Election Code 1.005
• Subpoena: A command to a witness to appear and give testimony.
• sworn: includes affirm or affirmed. See Texas Government Code 312.011
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Uniform election date: means an election date prescribed by § 41. See Texas Election Code 1.005
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• 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.
• Voting year: means the 12-month period beginning January 1 of each year. See Texas Election Code 1.005
• Week: means seven consecutive days. See Texas Government Code 311.005