Terms Used In Texas Insurance Code Chapter 941 > Subchapter C - Authority to Engage in Business

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Chambers: A judge's office.
• Contract: A legal written agreement that becomes binding when signed.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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}
• Property: means real and personal property. See Texas Government Code 311.005
• Service of process: The service of writs or summonses to the appropriate party.
• Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005