§ 17310 (a) It shall be the purpose of Fidelity Corporation to indemnify …
§ 17311 (a) Persons licensed pursuant to this division shall maintain a …
§ 17312 (a) Each person licensed pursuant to this division who is …
§ 17313 The commissioner shall review and approve the articles of …
§ 17313.1 The fiscal year of Fidelity Corporation shall commence on July 1 of …
§ 17314 (a) Fidelity Corporation shall pay a member for loss of trust …
§ 17314.1 (a) Notwithstanding any other provision of this article, …
§ 17314.2 Claims filed prior to the effective date of this chapter shall be …
§ 17314.3 (a) A deductible shall apply to each loss suffered by a member …
§ 17315 The commissioner may establish rules which are reasonable and …

Terms Used In California Codes > Financial Code > Division 6 > Chapter 2.5 > Article 2 - Purpose: Scope of Guarantee

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • department: means State Department of Health Services. See California Health and Safety Code 20
  • Director: means "State Director of Health Services. See California Health and Safety Code 21
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • escrow agent: as used in this division includes joint control agents and Internet escrow agents. See California Financial Code 17005.6
  • 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
  • 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.
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Monthly average escrow liability: as used in this chapter , means the average escrow liability for the 12-month period as reported in the most recent report made by the member to the commissioner pursuant to Section 17348. See California Financial Code 17305
  • Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.
  • Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8