Terms Used In California Codes > Business and Professions Code > Division 6 > Chapter 2 > Article 2 - Application for Registration

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Fair market value: means the estimated fair market value of goods, services, facilities or anything of value other than money. See California Government Code 82025.5
• General obligation bonds: means bonds, warrants, notes or other evidence of indebtedness of a local agency payable, both principal and interest, from the proceeds of ad valorem taxes or ad valorem assessments which may be levied without limitation as to rate or amount upon property in the local agency subject to taxation or assessment. See California Government Code 53500
• Legislative body: means the legislative body of the local agency as defined in Section 53000. See California Government Code 53500
• Local agency: means county, city, city and county, public district, or other public or municipal corporation. See California Government Code 53500
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
• 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
• Pledge: means pledge, assign, place a charge upon and place a lien upon. See California Government Code 53500
• Revenue-producing facility: means an improvement, works, system or facility furnishing or providing services or products for which the local agency is authorized to impose a charge. See California Government Code 53500
• State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.