Reconciliation (United States Congress) Reconciliation is a legislative process of the United States Congress that allows expedited passage of certain budgetary legislation on spending, revenues, and the federal debt limit with a simple majority vote in both the House (218 votes) and Senate (51 votes).
surrender - Legal Definition n Delivery into the possession of another, such as vacating of property by the tenant before the lease has terminated so that the landlord may consider termination to have occurred; the giving up of a claim or a right; yielding to the control or power of another; the return of an estate to the one who has a reversion so as to merge the estate into a larger one.
cash surrender value (CSV) Amount the holder of a life insurance policy (that has cash value) is entitled to receive, on its surrender (cancellation) before the death of the insured or before the policy matures. This sum is based on the insurance premium paid up to the surrender date less surrender fee. Also called cash value or surrender value, it may be used as a collateral for borrowing from the insurance company or a bank.