Terms Used In Florida Statutes > Chapter 626 > Part III - Life Insurance Agents

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Broadcast: means the broadcast, transmission, simulcast, or exhibition in any medium or manner by means that may include, but are not limited to, community antenna systems that receive and retransmit television or radio signals by wire, cable, or otherwise to television or radio sets, and cable origination networks or programmers that transmit programming to community antenna televisions or closed-circuit systems by wire, cable, satellite, or otherwise. See Florida Statutes 550.002
• Commission: means the Florida Gaming Control Commission. See Florida Statutes 550.002
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• current race meet: means the conduct of racing or games pursuant to a current year's operating license issued by the commission. See Florida Statutes 550.002
• Dependent: A person dependent for support upon another.
• Event: means a single contest, race, or game within a performance. See Florida Statutes 550.002
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: A trustee, executor, or administrator.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fronton: means a building or enclosure that contains a playing court with three walls designed and constructed for playing the sport of jai alai or pelota. See Florida Statutes 550.002
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Guest track: means a track or fronton receiving or accepting an intertrack wager. See Florida Statutes 550.002
• Handle: means the aggregate contributions to pari-mutuel pools. See Florida Statutes 550.002
• Horserace permitholder: means any thoroughbred entity permitted under the provisions of this chapter to conduct pari-mutuel wagering meets of thoroughbred racing; any harness entity permitted under this chapter to conduct pari-mutuel wagering meets of harness racing; or any quarter horse entity permitted under this chapter to conduct pari-mutuel wagering meets of quarter horse racing. See Florida Statutes 550.002
• Host track: means a track or fronton conducting a live or simulcast race or game that is the subject of an intertrack wager. See Florida Statutes 550.002
• intertrack wagering: means a particular form of pari-mutuel wagering in which wagers are accepted at a permitted, in-state track, fronton, or pari-mutuel facility on a race or game transmitted from and performed live at, or simulcast signal rebroadcast from, another in-state pari-mutuel facility. See Florida Statutes 550.002
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Market area: means an area within 25 miles of a permitholder's track or fronton. See Florida Statutes 550.002
• meeting: means the conduct of live racing or jai alai, or wagering on intertrack or simulcast events, for any stake, purse, prize, or premium. See Florida Statutes 550.002
• pari-mutuel wagering: means a system of betting on races or games in which the winners divide the total amount bet, after deducting management expenses and taxes, in proportion to the sums they have wagered individually and with regard to the odds assigned to particular outcomes. See Florida Statutes 550.002
• pelota: means a ball game of Spanish origin played on a court with three walls. See Florida Statutes 550.002
• Performance: means a series of events, races, or games performed consecutively under a single admission charge. See Florida Statutes 550.002
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• 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}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Purse: means the cash portion of the prize for which a race or game is contested. See Florida Statutes 550.002
• Quarter horse: means a breed of horse developed in the western United States which is capable of high speed for a short distance and used in quarter horse racing registered with the American Quarter Horse Association. See Florida Statutes 550.002
• 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.
• 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.
• Statute: A law passed by a legislature.
• Takeout: means the percentage of the pari-mutuel pools deducted by the permitholder prior to the distribution of the pool. See Florida Statutes 550.002
• Thoroughbred: means a purebred horse whose ancestry can be traced back to one of three foundation sires and whose pedigree is registered in the American Stud Book or in a foreign stud book that is recognized by the Jockey Club and the International Stud Book Committee. See Florida Statutes 550.002
• Trustee: A person or institution holding and administering property in trust.
• veteran: means a person who served in the active military, naval, or air service and who was discharged or released under honorable conditions only or who later received an upgraded discharge under honorable conditions, notwithstanding any action by the United States Department of Veterans Affairs on individuals discharged or released with other than honorable discharges. See Florida Statutes 1.01
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01