Terms Used In California Codes > Corporations Code > Title 1 > Division 1.5 > Chapter 2 - Organization and Bylaws

• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• County: includes city and county. See California Government Code 19
• County: includes "city and county. See California Corporations Code 14
• Fiduciary: A trustee, executor, or administrator.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Notice: includes all papers and orders required to be served in any proceedings before any court, board, or officer, or when required by law to be served independently of such proceeding. See California Government Code 26660
• 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 a corporation as well as a natural person. See California Corporations Code 18
• Process: includes a writ or summons issued in the course of judicial proceedings of either a civil or criminal nature. See California Government Code 22
• Quorum: The number of legislators that must be present to do business.
• Service of process: The service of writs or summonses to the appropriate party.
• State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
• State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77
• Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10