Terms Used In California Codes > Business and Professions Code > Division 3 > Chapter 9 > Article 10 - Home Improvement Business

• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Basic system: as used in this article , means a telephone service which automatically connects a person dialing the digits "911" to an established public safety answering point through normal telephone service facilities. See California Government Code 53107
• board: means any entity listed in Section 101, the entities referred to in Sections 1000 and 3600, the State Bar, the Department of Real Estate, and any other state agency that issues a license, certificate, or registration authorizing a person to engage in a business or profession. See California Business and Professions Code 31
• City: includes city and county. See California Business and Professions Code 18
• Commissioner: means any county agricultural commissioner. See California Food and Agricultural Code 26
• County: includes city and county. See California Business and Professions Code 17
• Department: means the Department of Food and Agriculture. See California Food and Agricultural Code 32
• Division: as used in this article , means the Public Safety Communications Division within the Office of Emergency Services. See California Government Code 53108.5
• 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.
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
• Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
• Person: as used in this article is limited to natural persons, notwithstanding the definition of person in Section 7025. See California Business and Professions Code 7150
• Person: means any individual, partnership, association, corporation, limited liability company, or any organized group of persons whether incorporated or not. See California Food and Agricultural Code 38
• Public agency: as used in this article , means the state, and any city, county, city and county, municipal corporation, public district, or public authority located in whole or in part within this state which provides or has authority to provide firefighting, police, ambulance, medical, or other emergency services. See California Government Code 53101
• Public safety agency: as used in this article , means a functional division of a public agency which provides firefighting, police, medical, or other emergency services. See California Government Code 53102
• Referral method: as used in this article , means a telephone service which, upon the receipt of a telephone request for emergency services, provides the requesting party with the telephone number of the appropriate public safety agency or other provider of emergency services. See California Government Code 53106
• Secretary: means the Secretary of Food and Agriculture. See California Food and Agricultural Code 35
• Sell: includes offer for sale, expose for sale, possess for sale, exchange, barter, or trade. See California Food and Agricultural Code 44
• Senior citizen: means an individual who is 65 years of age or older. See California Business and Professions Code 7150
• State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21
• Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
• Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Food and Agricultural Code 49
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}