Terms Used In Indiana Code > Title 4 > Article 33 > Chapter 4.5 - Gaming Commission Gaming 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.
• applicant: refers to a person that applies for a viatical settlement provider license under this chapter. See Indiana Code 27-8-19.8-1
• Arrest: Taking physical custody of a person by lawful authority.
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• 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}
• Bequest: Property gifted by will.
• charitable entity: means an entity that is exempt from federal taxation under Section 501(c)(3) of the Internal Revenue Code (Indiana Code 27-8-18-2
• commissioner: refers to the commissioner of the department of insurance. See Indiana Code 27-8-20-1
• 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.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• department: refers to the department of insurance. See Indiana Code 27-8-19.8-2
• Devise: To gift property by will.
• drug: means a drug or biologic that is used in an anticancer chemotherapeutic regimen. See Indiana Code 27-8-20-2
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Fiduciary: A trustee, executor, or administrator.
• health maintenance organization: has the meaning set forth in IC 27-13-1-19. See Indiana Code 27-8-20-5
• insurance policy: means an accident and sickness policy (as defined in IC 27-8-5-1). See Indiana Code 27-8-20-3
• insured: refers to an individual whose life is the subject of insurance under a life insurance policy or contract. See Indiana Code 27-8-19.8-3
• 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}
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• life insurance policy: means an insurance policy that provides the type of insurance described in Class 1(a) of IC 27-1-5-1. See Indiana Code 27-8-18-3
• Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• 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.
• 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.
• person: means an individual, an association, a corporation, a limited liability corporation, an estate, a partnership, a trust, or any other business or legal entity. See Indiana Code 27-8-19.8-7
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Service of process: The service of writs or summonses to the appropriate party.
• 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.
• standard reference compendium: means any of the following:

  Indiana Code 27-8-20-6

• stranger originated life insurance: means a practice or plan to initiate a life insurance policy for the benefit of a third party investor who, at the time the life insurance policy is originated, has no insurable interest in the insured. See Indiana Code 27-8-19.8-7.8
• Summons: Another word for subpoena used by the criminal justice system.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• viatical settlement broker: means a person that represents a viator and for a fee, commission, or other valuable consideration, solicits, offers, or attempts to negotiate viatical settlements between a viator and one (1) or more viatical settlement providers. See Indiana Code 27-8-19.8-4.5
• viatical settlement contract: means an agreement for the purchase, sale, assignment, transfer, devise, or bequest of a portion of the death benefit or ownership of a life insurance policy or contract for consideration that is less than the expected death benefit of the life insurance policy or contract. See Indiana Code 27-8-19.8-6
• viatical settlement provider: means a person, other than a viator, that:

  Indiana Code 27-8-19.8-5

• viaticated policy: means a life insurance policy or certificate that has been acquired by a viatical settlement provider under a viatical settlement contract. See Indiana Code 27-8-19.8-6.5
• viator: refers to the owner of a life insurance policy or a certificate holder under a group policy that insures the life of an insured who enters or seeks to enter into a viatical settlement contract. See Indiana Code 27-8-19.8-8
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5