Washington Code > Chapter 48.32 – Washington insurance guaranty association act
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Terms Used In Washington Code > Chapter 48.32 - Washington insurance guaranty association act
- Account: means one of the three accounts created in RCW 48. See Washington Code 48.32.030
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means the Washington insurance guaranty association created in RCW 48. See Washington Code 48.32.030
- Commissioner: means the insurance commissioner of this state. See Washington Code 48.32.030
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Covered claim: means :
Washington Code 48.32.030Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts Germane: On the subject of the pending bill or other business; a strict standard of relevance. Insolvent insurer: means :
Washington Code 48.32.030Jurisdiction: (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. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Member insurer: means any person who (a) writes any kind of insurance to which this chapter applies under RCW 48. See Washington Code 48.32.030 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Net direct written premiums: means direct gross premiums written in this state on insurance policies to which this chapter applies, less return premiums thereon and dividends paid or credited to policyholders on such direct business. See Washington Code 48.32.030 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 any individual, corporation, partnership, association, or voluntary organization. See Washington Code 48.32.030 Personal property: All property that is not real property. Verdict: The decision of a petit jury or a judge.