Terms Used In California Codes > Insurance Code > Division 1 > Part 2 > Chapter 1 > Article 10.5 - National Association of Insurance Commissioners

• City: includes city and county. See California Harbors and Navigation Code 15
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Contract: A legal written agreement that becomes binding when signed.
• County: includes city and county. See California Harbors and Navigation Code 14
• Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
• Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
• 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}
• Jurisdiction: (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.
• Person: means any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Harbors and Navigation Code 19
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Vessel: includes ships of all kinds, steamboats, steamships, canal boats, barges, sailing vessels, and every structure adapted to be navigated from place to place for the transportation of merchandise or persons. See California Harbors and Navigation Code 21