Terms Used In California Codes > Financial Code > Division 7 > Chapter 7 - Guarantee of Thrift Accounts

• Affinity: signifies the connection existing in consequence of marriage, between each of the married persons and the blood relatives of the other when applied to the marriage relation. See California Code of Civil Procedure 17
• 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.
• Amortization: Paying off a loan by regular installments.
• Amount financed: means the amount required to be disclosed pursuant to paragraph (8) of subdivision (a) of Section 2982. See California Civil Code 2981
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Arrest: Taking physical custody of a person by lawful authority.
• Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• board: means the California State Board of Optometry. See California Business and Professions Code 3004
• Buyer: means the person who buys or hires a motor vehicle under a conditional sale contract. See California Civil Code 2981
• Capital: as used in this division , consists of all of the following:

  California Financial Code 18018

• Cash price: means the amount for which the seller would sell and transfer to the buyer unqualified title to the motor vehicle described in the conditional sale contract, if the property were sold for cash at the seller's place of business on the date the contract is executed, and shall include taxes to the extent imposed on the cash sale and the cash price of accessories or services related to the sale, including, but not limited to, delivery, installation, alterations, modifications, improvements, document preparation fees, a service contract, a vehicle contract cancellation option agreement, and payment of a prior credit or lease balance remaining on property being traded in. See California Civil Code 2981
• Charges: as used in this division , include the aggregate interest, fees, bonuses, commissions, brokerage, discounts, expenses, and other forms of costs charged, contracted for, or received by an industrial loan company or any other person in connection with the investigating, arranging, negotiating, procuring, guaranteeing, making, servicing, collecting, or enforcing of a loan, or for forbearance of money, credit, goods, things in action, or any other service or services rendered. See California Financial Code 18007
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• City: means any city whether general law or charter, including a city and county, and including any city the name of which includes the word "town. See California Health and Safety Code 13802
• Commission: means the California Transportation Commission. See California Government Code 14501
• Commission: means the Educational Innovation and Planning Commission. See California Education Code 33509
• commission: means the Instructional Quality Commission. See California Education Code 33539
• company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003
• compensation: means the remuneration paid out of funds controlled by the employer in payment for the member's services performed during normal working hours or for time during which the member is excused from work because of any of the following:

  California Government Code 20630

• Conditional sale contract: means :

  California Civil Code 2981

• contract: means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in Section 1303. See California Commercial Code 1201
• County: includes city and county. See California Government Code 19
• County: includes "city and county. See California Code of Civil Procedure 17
• County: includes city and county. See California Financial Code 14
• Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
• department: means the Department of Veterans Affairs. See California Military and Veterans Code 690
• Department: means the Department of Transportation. See California Government Code 14002.5
• Department: means the Department of Veterans Affairs. See California Military and Veterans Code 1010
• Department: means the Department of Transportation. See California Government Code 14501
• Department: means the Department of Parks and Recreation. See California Public Resources Code 5078
• Director: means the Director of Transportation. See California Government Code 14002.5
• District: means a fire protection district created pursuant to this part or created pursuant to any law which this part supersedes. See California Health and Safety Code 13802
• Downpayment: means a payment that the buyer pays or agrees to pay to the seller in cash or property value or money's worth at or prior to delivery by the seller to the buyer of the motor vehicle described in the conditional sale contract. See California Civil Code 2981
• Election: means any election including a primary that is provided for under this code. See California Elections Code 318
• Elections official: means any of the following:

  California Elections Code 320

• Elector: means a person who is a United States citizen 18 years of age or older and, except as specified in subdivision (b), is a resident of an election precinct in this state on or before the day of an election. See California Elections Code 321
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
• 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.
• 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
• Executor: A male person named in a will to carry out the decedent
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Finance charge: has the meaning set forth for that term in Section 226. See California Civil Code 2981
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fund: means the Heritage Network Decal Fund created pursuant to §. See California Public Resources Code 5078
• Guaranteed asset protection waiver: means an optional contractual obligation under which a seller agrees, for additional consideration, to cancel or waive all or part of amounts due on the buyer's conditional sale contract subject to this chapter in the event of a total loss or unrecovered theft of the motor vehicle specified in the conditional sale contract. See California Civil Code 2981
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
• Holder: means the person entitled to enforce the conditional sale contract against the buyer at the time. See California Civil Code 2981
• Home: means any facility operated by the department for the provision of long-term care, assisted living, adult day health, independent living, or other health care services to eligible veterans. See California Military and Veterans Code 1010
• 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}
• Juror: A person who is on the jury.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Minimum finance charge: The minimum, or fixed, finance charge that will be imposed during a billing cycle. A minimum finance charge usually applies only when a finance charge is imposed, that is, when you carry over a balance. ^{Source: Federal Reserve}
• Mistrial: An invalid trial, caused by fundamental error. When a mistrial is declared, the trial must start again from the selection of the jury.
• month: means a calendar month, unless otherwise expressed. See California Civil Code 14
• Motor vehicle: means a vehicle required to be registered under the Vehicle Code that is bought for use primarily for personal or family purposes, and does not mean any vehicle that is bought for use primarily for business or commercial purposes or a mobilehome, as defined in §. See California Civil Code 2981
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• optometrist: means a person who is licensed to practice optometry in this state under the authority of this chapter. See California Business and Professions Code 3003
• Oversight: Committee review of the activities of a Federal agency or program.
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See California Commercial Code 1201
• Person: includes a corporation as well as a natural person. See California Code of Civil Procedure 17
• Person: includes an individual, company, firm, association, partnership, trust, corporation, limited liability company, or other legal entity. See California Civil Code 2981
• 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
• Person: means any individual, partnership, association, corporation, limited liability company, or any organized group of persons whether incorporated or not. See California Food and Agricultural Code 38
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• 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.
• Precinct: means a geographical area within a county that is made up of voters and is formed pursuant to Chapter 3 (commencing with Section 12200) of Division 12. See California Elections Code 338.6
• Precomputed basis: means the determination of a finance charge by multiplying the original unpaid balance of the contract by a rate and multiplying that product by the number of payment periods elapsing between the date of the contract and the date of the last scheduled payment. See California Civil Code 2981
• Principal county: means the county having all or the greater portion of the entire assessed value, as shown on the last equalized assessment roll of the county or counties, of all taxable property within a district. See California Health and Safety Code 13802
• Process: signifies a writ or summons issued in the course of a judicial proceeding. See California Code of Civil Procedure 17
• Program: means the State Heritage Network Plan and Grants Program. See California Public Resources Code 5078
• Public defender: Represent defendants who can't afford an attorney in criminal matters.
• Purchase order: means a sales order, car reservation, statement of transaction, or any other such instrument used in the conditional sale of a motor vehicle pending execution of a conditional sale contract. See California Civil Code 2981
• Rebuttable presumption: shall be deemed a presumption which affects the burden of producing evidence. See California Elections Code 346
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See California Commercial Code 1201
• Regulation Z: means a rule, regulation, or interpretation promulgated by the Board of Governors of the Federal Reserve System ("Board") under the federal Truth in Lending Act, as amended (15 U. See California Civil Code 2981
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Right: includes remedy. See California Commercial Code 1201
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Secretary: means the Secretary of Veterans Affairs. See California Military and Veterans Code 1010
• Security interest: includes any interest of a consignor and a buyer of accounts, chattel paper, a payment intangible, or a promissory note in a transaction that is subject to Division 9 (commencing with Section 9101). See California Commercial Code 1201
• Sell: includes offer for sale, expose for sale, possess for sale, exchange, barter, or trade. See California Food and Agricultural Code 44
• Seller: means a person engaged in the business of selling or leasing motor vehicles under conditional sale contracts. See California Civil Code 2981
• Service contract: means "vehicle service contract" as defined in subdivision (c) of §. See California Civil Code 2981
• Service of process: The service of writs or summonses to the appropriate party.
• Sheriff: includes marshal. See California Code of Civil Procedure 17
• Signature: includes either of the following:

  California Elections Code 354.5

• Simple-interest basis: means the determination of a finance charge, other than an administrative finance charge, by applying a constant rate to the unpaid balance as it changes from time to time either:

  California Civil Code 2981

• Spouse: includes "registered domestic partner" as required by §. See California Military and Veterans Code 19
• Spouse: includes "registered domestic partner" as required by §. See California Code of Civil Procedure 17
• Spouse: includes "registered domestic partner" as required by §. See California Government Code 12.2
• State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77
• State: includes the District of Columbia and the territories when applied to the different parts of the United States, and the words "United States" may include the district and territories. See California Code of Civil Procedure 17
• State Board of Optometry: shall be deemed to refer to the "California State Board of Optometry. See California Business and Professions Code 3004
• State plan: means the plan for the use of Title IV funds as approved by the State Board of Education. See California Education Code 33509
• Summons: Another word for subpoena used by the criminal justice system.
• supervised financial organization: means a person organized, chartered, or holding a license or authorization certificate under a law of this state or the United States to make loans and subject to supervision by an official or agency of this state or the United States. See California Civil Code 2982.5
• Surface protection product: means the following products installed by the seller after the motor vehicle is sold:

  California Civil Code 2981

• Theft deterrent device: means the following devices installed by the seller after the motor vehicle is sold:

  California Civil Code 2981

• Thrift obligations: as used in this chapter include principal invested in investment or thrift certificates however evidenced, and unpaid interest thereon accrued as of the last interest accrual date prior to the date the commissioner takes possession of the property and business of a member or the date such member is the subject of an order for relief in bankruptcy, whichever occurs sooner. See California Financial Code 18477
• Title IV: means Title IV, Parts A, B, C, and D of the Educational Amendments of 1978 (Public Law 95-561) as amended. See California Education Code 33509
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trial jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
• Trust: means a State Heritage Network Trust organized pursuant to subdivision (c) of Section 5078. See California Public Resources Code 5078
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}
• Unpaid balance: means the difference between subdivisions (f) and (g), plus all insurance premiums (except for credit life or disability insurance when the amount thereof is included in the finance charge), which are included in the contract balance, and the total amount paid or to be paid as follows:

  California Civil Code 2981

• Verdict: The decision of a petit jury or a judge.
• Veteran: means a person who is eligible for benefits under this chapter. See California Military and Veterans Code 1010
• visually impaired: means a person having central visual acuity not to exceed 20-200 in the better eye, with corrected lenses, or visual acuity greater than 20-200, but with a limitation in the field of vision such that the widest diameter of the visual field subtends at an angle of not greater than 20 degrees. See California Elections Code 2051
• Voir dire: The process by which judges and lawyers select a petit jury from among those eligible to serve, by questioning them to determine knowledge of the facts of the case and a willingness to decide the case only on the evidence presented in court. "Voir dire" is a phrase meaning "to speak the truth."
• Voter: means any elector who is registered under this code. See California Elections Code 359
• will: includes codicil. See California Civil Code 14
• Will: includes codicil. See California Code of Civil Procedure 17
• Writing: includes printing and typewriting. See California Code of Civil Procedure 17
• Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8