Terms Used In California Codes > Food and Agricultural Code > Division 20 > Chapter 9 > Article 4 - Investigations, Hearings, and Suspension or Revocation of Licenses

• 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.
• Authority: means the Community Revitalization and Investment Authority created pursuant to this division. See California Government Code 62000
• 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}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Plan: means a community revitalization and investment plan and shall be deemed to be the plan described in §. See California Government Code 62000
• Plan area: means territory included within a community revitalization and investment area. See California Government Code 62000