Terms Used In California Codes > Corporations Code > Title 1 > Division 1 > Chapter 3 - Directors and Management

• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• Commission: means the Seismic Safety Commission. See California Public Resources Code 2811
• County: includes city and county. See California Government Code 19
• County: includes "city and county. See California Corporations Code 14
• County: includes "city and county. See California Public Resources Code 14
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Ex officio: Literally, by virtue of one's office.
• executed: when used with respect to the documents filed pursuant to this code or pursuant to regulations adopted under this code, and presented to the Secretary of State, include a document bearing a signature under subdivision (a). See California Corporations Code 17.1
• 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}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• office: means the Office of Emergency Services. See California Public Resources Code 2811
• Parkfield characteristic earthquake: means an earthquake that has, among other qualities, a magnitude between 5. See California Public Resources Code 2801
• Parkfield prototype earthquake prediction system: means a dense cluster of instruments along the Parkfield section of the San Andreas fault which monitors earthquake activity, local distortion of the Earth's crust, strain levels, creep adjustments along the fault, and other phenomena which may be useful in making a short-term earthquake prediction. See California Public Resources Code 2801
• Person: includes a corporation as well as a natural person. See California Corporations Code 18
• Preparedness: means long-term preearthquake hazard mitigation, reconstruction, and recovery planning and preparation for emergency response. See California Public Resources Code 2811
• 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.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Short-term prediction: means a prediction of an earthquake that is expected to occur within a few hours to a few weeks. See California Public Resources Code 2801
• State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77