Terms Used In California Codes > Financial Code > Division 10 > Chapter 1 > Article 1 - Construction and Definitions

• Commissioner: means the Commissioner of Financial Protection and Innovation. See California Financial Code 23001
• 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.
• Deferred deposit originator: means a person who offers, originates, or makes a deferred deposit transaction. See California Financial Code 23001
• Deferred deposit transaction: means a transaction whereby a person defers depositing a customer's personal check until a specific date, pursuant to a written agreement for a fee or other charge, as provided in Section 23035. See California Financial Code 23001
• Department: means the Department of Financial Protection and Innovation. See California Financial Code 23001
• Licensee: means any person who offers, originates, or makes a deferred deposit transaction, who arranges a deferred deposit transaction for a deferred deposit originator, who acts as an agent for a deferred deposit originator, or who assists a deferred deposit originator in the origination of a deferred deposit transaction. See California Financial Code 23001
• 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: means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated organization, a government entity, or a political subdivision of a government entity. See California Financial Code 23001