Volunteer Protection Act Of

Definition of "Volunteer protection act of 1997"

Act in which volunteers of nonprofit organizations and government entities do not incur liability if they are acting within the scope of their volunteer activities, their actions do not result in reckless misconduct, gross negligence, and/or willful or criminal misconduct, and they have the proper license, if required. Protection is only for individual volunteers; there is no protection for organizations or paid members of organizations.

Search Real Estate Glossary

Related Real Estate Glossary terms

General Characteristics

Attributes of a particular employee benefit plan. For example, a general characteristic of group lif ...

Schedule E

Schedule which is part of Form 1040 showing income or loss from real estate transactions including n ...

Yield On Investments Ratio

Insurance company's net investment income divided by its invested assets. The greater the yield, the ...

Territorial Grouping Of Risks

Method of classifying risks to establish equitable rates. In many property and liability insurance l ...

Commission

Fee paid to an insurance salesperson as a percentage of the premium generated by a sold insurance po ...

Interest Due

The amount of interest, expressed in dollars, computed by multiplying the loan balance at the end of ...

Related Real Estate FAQ

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Are Discount Points?

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The cred ...

What Is A Qualifying Ratio?

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

What Is A VA Loan?

A VA loan is a type of loan available to veterans and guaranteed by the Department of Veterans\' Aff ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

7 Tips for a First Time Homebuyer Top Five Reasons Your Home Offer was Rejected What do Real Estate Attorneys do? How Does The Home Loan Underwriting Process Work? What is the Best Time of Year to Buy a Home?

FAQ

What is a buyer’s agent? What does Fannie Mae mean? How Much Will My Principal Be? Why should I use a real estate agent? What are the benefits of Business Owners Insurance?