Terms Used In California Codes > Financial Code > Division 9 > Chapter 1 - General Provisions

• Administratrix: The female counterpart of an administrator. See also
• agreement: means the total legal obligation that results from the parties' agreement as determined by this code and as supplemented by any other applicable laws. See California Commercial Code 1201
• Alternative energy equipment: means alternative energy equipment, as defined in subdivision (d) of Section 15814. See California Government Code 14710
• Amortization: Paying off a loan by regular installments.
• 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.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Approved: means acceptable to the department. See California Health and Safety Code 17920
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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.
• Bank: means a person engaged in the business of banking, and includes a savings bank, savings and loan association, credit union, and trust company. See California Commercial Code 1201
• Board: means the State Public Works Board. See California Government Code 15802
• board: means the California State Board of Optometry. See California Business and Professions Code 3004
• bona fide principal amount: as used in this division solely for the purposes of determining whether the loan amount exceeds a regulatory ceiling, and is not intended to affect the meaning of "principal" for any other purpose. See California Financial Code 22251
• Bonds: means revenue bonds, notes, including commercial paper notes or other forms of negotiable short-term indebtedness, or bond anticipation notes issued to finance prison facilities, interest during construction of prison facilities, reserve funds, and costs of issuance of the bonds, as the board may determine. See California Government Code 15819.1
• Building: means a structure subject to this part. See California Health and Safety Code 17920
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• City: includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town. See California Financial Code 13
• Cogeneration equipment: means equipment used for cogeneration, as defined in §. See California Government Code 14710
• commission: means the Advisory Commission on Special Education. See California Education Code 33596
• Construction: includes the extension, enlargement, repair, renovation, restoration, improvement, furnishing, and equipping of any public building. See California Government Code 15802
• 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
• Conviction: A judgement of guilt against a criminal defendant.
• County: includes city and county. See California Government Code 19
• County: includes city and county. See California Health and Safety Code 14
• county: includes "city and county". See California Penal Code 7
• County: includes "city and county. See California Corporations Code 14
• County: includes "city and county. See California Public Resources Code 14
• County: includes city and county. See California Financial Code 14
• Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) ^{Source: OCC}
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Deed: The legal instrument used to transfer title in real property from one person to another.
• department: means the Department of Parks and Recreation and "director" means the Director of Parks and Recreation. See California Public Resources Code 5001.1
• Department: means the Department of Housing and Community Development. See California Health and Safety Code 17920
• 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
• director: refer to the Department of General Services and the Director of General Services, respectively, unless the context otherwise requires. See California Government Code 14602
• directors: means natural persons, designated in the articles or bylaws or elected by the incorporators, and their successors and natural persons designated, elected, or appointed by any other name or title to act as members of the governing body of the corporation. See California Corporations Code 5047
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Document of title: includes a bill of lading, dock warrant, dock receipt, warehouse receipt, or order for the delivery of goods, and also any other document which in the regular course of business or financing is treated as adequately evidencing that the person in possession of it is entitled to receive, hold, and dispose of the document and the goods it covers. See California Commercial Code 1201
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See California Commercial Code 1201
• Enforcement: means diligent effort to secure compliance, including review of plans and permit applications, response to complaints, citation of violations, and other legal process. See California Health and Safety Code 17920
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executrix: The female counterpart of an executor. See also
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Feasible: means capable of being accomplished in a successful manner within a reasonable period of time, taking into account life-cycle costing analyses, and environmental, social, and technological factors, however, renewable technologies shall not be exempt based solely on cost considerations. See California Government Code 14710
• 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}
• Fiduciary: A trustee, executor, or administrator.
• Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
  • You are late making a payment or commit some other default, triggering an increase to a penalty rate
  • The bank changes the terms of your account and you do not reject the change.
  • The rate expires (if the rate was fixed for only a certain period of time).
• 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}
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Lease-purchase financing: means the financing of prison facilities from the proceeds of the sale of bonds authorized by the board. See California Government Code 15819.1
• license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
• license: shall include a permit or a certificate issued by a state agency. See California Penal Code 23
• Lien: A claim against real or personal property in satisfaction of a debt.
• Listed: means all products that appear in a list published by an approved testing or listing agency. See California Health and Safety Code 17920
• maliciously: import a wish to vex, annoy, or injure another person, or an intent to do a wrongful act, established either by proof or presumption of law. See California Penal Code 7
• Markup: The process by which congressional committees and subcommittees debate, amend, and rewrite proposed legislation.
• Money: means a medium of exchange that is currently authorized or adopted by a domestic or foreign government. See California Commercial Code 1201
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) ^{Source: OCC}
• negligently: import a want of such attention to the nature or probable consequences of the act or omission as a prudent man ordinarily bestows in acting in his own concerns. See California Penal Code 7
• 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.
• Nuisance: means any nuisance defined pursuant to Part 3 (commencing with Section 3479) of Division 4 of . See California Health and Safety Code 17920
• Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) ^{Source: OCC}
• 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
• peace officer: signify any one of the officers mentioned in Chapter 4. See California Penal Code 7
• Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
• Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
• 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 Penal Code 7
• 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
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• 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}
• 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
• property: includes both real and personal property. See California Penal Code 7
• Public building: means a public building, as defined in Section 15802. See California Government Code 14710
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• 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}
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Right: includes remedy. See California Commercial Code 1201
• rules and regulations: as used in this part , means regulations promulgated by the commission or department, as appropriate, pursuant to Chapter 3. See California Health and Safety Code 18010.5
• 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
• specified amount: means five thousand dollars ($5,000). See California Financial Code 22551
• Spouse: includes "registered domestic partner" as required by §. See California Health and Safety Code 12.2
• 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 Government Code 18
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the district and territories. See California Penal Code 7
• State agency: means any state agency, board, department or commission, including, but not limited to, the entities specified in subdivision (a) of Section 15814. See California Government Code 14710
• State Board of Optometry: shall be deemed to refer to the "California State Board of Optometry. See California Business and Professions Code 3004
• Subdivision: means a subdivision of the section in which the term occurs unless some other section is expressly mentioned. See California Government Code 10
• Summons: Another word for subpoena used by the criminal justice system.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• 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}
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}
• Verdict: The decision of a petit jury or a judge.
• Will: includes codicil. See California Code of Civil Procedure 17
• willfully: when applied to the intent with which an act is done or omitted, implies simply a purpose or willingness to commit the act, or make the omission referred to. See California Penal Code 7
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8