Terms Used In California Codes > Financial Code > Division 1.6 > Chapter 3 > Article 5 - Other Sales of Partial Business Units

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Business unit: means a branch business unit, a partial business unit, or a whole business unit. See California Financial Code 4840
• department: means State Department of Health Services. See California Health and Safety Code 20
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Partial business unit: means all or substantially all of any of the following:

  California Financial Code 4840

• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Purchaser: means a depository corporation that purchases a business unit from another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
• sale: means any of the sales described in Section 4879. See California Financial Code 4879.01
• Seller: means a depository corporation that sells a business unit to another depository corporation pursuant to the provisions of this chapter. See California Financial Code 4840
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23