Terms Used In California Codes > Financial Code > Division 9 > Chapter 3 - Commercial Loans

• Action: includes a civil action and a special proceeding of a civil nature. See California Code of Civil Procedure 2016.020
• 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
• Allegation: something that someone says happened.
• 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}
• Arrest: Taking physical custody of a person by lawful authority.
• assessed value: means 25 percent of full value to, and including, the 1980-81 fiscal year, and 100 percent of full value for the 1981-82 fiscal year and fiscal years thereafter. See California Government Code 25
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means the Capitol Area Development Authority created by the joint powers agreement executed pursuant to Section 8169. See California Government Code 8180
• 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.
• 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
• candidate: includes any officeholder who is subject to a recall election. See California Elections Code 305
• Capitol area: includes both of the following:

  California Government Code 8160.1

• Central city: means that area of the City of Sacramento bounded on the north by the American River, on the west by the Sacramento River, and on the south and east by Interstate Highway 80. See California Government Code 8160.1
• 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
• Classification: means that each position in the classified service shall have a designated title, a regular minimum number of assigned hours per day, days per week, and months per year, a specific statement of the duties required to be performed by the employees in each such position, and the regular monthly salary ranges for each such position. See California Education Code 88001
• Code: means the Code of Fair Campaign Practices. See California Elections Code 20420
• Commissioner: means any county agricultural commissioner. See California Food and Agricultural Code 26
• 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

• Construction: includes the extension, enlargement, repair, renovation, restoration, improvement, furnishing, and equipping of any public building. See California Government Code 15802
• Continuance: Putting off of a hearing ot trial until a later time.
• Core area: means that area of the City of Sacramento within the area bounded by "G" Street on the north, "R" Street on the south, 5th Street on the west, and 17th Street on the east. See California Government Code 8160.1
• 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.
• 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 Business and Professions Code 17
• County: includes "city and county. See California Code of Civil Procedure 17
• county: includes "city and county". See California Penal Code 7
• County: includes city and county. See California Financial Code 14
• County: includes city and county. See California Food and Agricultural Code 29
• Court: means the trial court in which the action is pending, unless otherwise specified. See California Code of Civil Procedure 2016.020
• 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}
• Currency: means United States currency or coin, the currency or coin of any foreign country, and any legal tender or coin defined as currency by Section 103. See California Penal Code 14161
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• 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 General Services. See California Government Code 8160.1
• department: means State Department of Health Services. See California Health and Safety Code 20
• Department: means the Department of Justice. See California Penal Code 14161
• Department: means the Department of Food and Agriculture. See California Food and Agricultural Code 32
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Director: means the Director of General Services. See California Government Code 8160.1
• 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
• Disciplinary action: includes any action whereby an employee is deprived of any classification or any incident of any classification in which he or she has permanence, including dismissal, suspension, demotion, or any reassignment, without his or her voluntary consent, except a layoff for lack of work or lack of funds. See California Education Code 88001
• 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

• Electronically stored information: means information that is stored in an electronic medium. See California Code of Civil Procedure 2016.020
• 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.
• 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}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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
• 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.
• Financial institution: means , when located or doing business in this state, any national bank or banking association, state bank or banking association, commercial bank or trust company organized under the laws of the United States or any state, any private bank, industrial savings bank, savings bank or thrift institution, savings and loan association, or building and loan association organized under the laws of the United States or any state, any insured institution as defined in Section 401 of the National Housing Act, any credit union organized under the laws of the United States or any state, any national banking association or corporation acting under Chapter 6 (commencing with Section 601) of Title 12 of the United States Code, any foreign bank, any currency dealer or exchange, any person or business engaged primarily in the cashing of checks, any person or business who regularly engages in the issuing, selling, or redeeming of traveler's checks, money orders, or similar instruments, any broker or dealer in securities registered or required to be registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, any licensed sender of money, any investment banker or investment company, any insurance company, any dealer in coins, precious metals, stones, or jewelry, any pawnbroker, any telegraph company, any person or business engaged in controlled gambling within the meaning of subdivision (e) of §. See California Penal Code 14161
• Forbearance: A means of handling a delinquent loan. A
• 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}
• fund: means the State Parks and Recreation Fund. See California Public Resources Code 5098
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• 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}
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisprudence: The study of law and the structure of the legal system.
• knowingly: import s only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See California Penal Code 7
• 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}
• 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
• Legacy: A gift of property made by will.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• license: shall include a permit or a certificate issued by a state agency. See California Penal Code 23
• Licensee: means any person authorized by a license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Sections 1000 and 3600. See California Business and Professions Code 23.8
• Licensing board: means any board, as defined in Section 22, the State Bar of California, and the Department of Real Estate. See California Business and Professions Code 30
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• magistrate: signifies any one of the officers mentioned in Section 808. See California Penal Code 7
• 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
• Manufactured home: as used in this part shall have the same meaning as defined in Section 18007. See California Health and Safety Code 18210.5
• Metropolitan area: means the greater metropolitan Sacramento area, including the City of Sacramento, the County of Sacramento, and the eastern part of Yolo County. See California Government Code 8160.1
• Mobilehome: as used in this part shall have the same meaning as defined in Section 18008. See California Health and Safety Code 18211
• Monetary instrument: means United States currency and coin. See California Penal Code 14161
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• 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.
• Oath: A promise to tell the truth.
• 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}
• open-end credit program: means a licensee's plan for making open-end loans pursuant to a loan agreement that sets forth the terms and conditions governing the use of the open-end credit program, expressly states that the loan is made pursuant to this article, and provides that:

  California Financial Code 22450

• 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
• Organization: means a person other than an individual. See California Commercial Code 1201
• peace officer: signify any one of the officers mentioned in Chapter 4. See California Penal Code 7
• permanent employee: includes tenure in the classification in which the employee passed the required probationary period and includes all of the incidents of that classification. See California Education Code 88001
• Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
• 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 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
• 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.
• 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.
• Prison facility: means real property, fixtures, furnishings, equipment, and related improvements for the following facilities:

  California Government Code 15819.1

• Probate: Proving a will
• 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
• Process: signifies a writ or summons issued in the course of a judicial proceeding. See California Code of Civil Procedure 17
• Project area: includes both of the following:

  California Government Code 8180

• property: includes property real and personal. See California Civil Code 14
• Property: includes both personal and real property. See California Code of Civil Procedure 17
• property: includes both real and personal property. See California Penal Code 7
• Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See California Commercial Code 1201
• Purchaser: means a person that takes by purchase. See California Commercial Code 1201
• Quorum: The number of legislators that must be present to do business.
• 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
• Redevelopment plan: means the Capitol Area Plan approved by the Director of General Services on March 15, 1977, and referred to in Section 8160, and the plan prepared pursuant to Section 8182. See California Government Code 8180
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remedy: means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal. See California Commercial Code 1201
• Representative: means a person empowered to act for another, including an agent, an officer of a corporation or association, and a trustee, executor, or administrator of an estate. See California Commercial Code 1201
• 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
• 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
• specified amount: means five thousand dollars ($5,000). See California Financial Code 22551
• Spouse: includes "registered domestic partner" as required by §. See California Business and Professions Code 14.2
• 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: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See California Commercial Code 1201
• 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: 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: includes every state office, officer, department, division, bureau, board, and commission. See California Government Code 11000
• State Board of Optometry: shall be deemed to refer to the "California State Board of Optometry. See California Business and Professions Code 3004
• Statute: A law passed by a legislature.
• Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15
• Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Food and Agricultural Code 49
• 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.
• Term: means a portion of an agreement that relates to a particular matter. See California Commercial Code 1201
• Testator: A male person who leaves a will at death.
• Testify: includes any mode of oral statement made under oath or affirmation. See California Code of Civil Procedure 17
• Transaction: includes the deposit, withdrawal, transfer, bailment, loan, payment, or exchange of currency, or a monetary instrument, as defined by subdivision (c), by, through, or to, a financial institution, as defined by subdivision (a). See California Penal Code 14161
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{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}
• Venue: The geographical location in which a case is tried.
• Verdict: The decision of a petit jury or a judge.
• vessel: means a vessel as defined in subdivision (c) of §. See California Penal Code 7
• will: includes codicil. See California Penal Code 7
• 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
• Writing: includes printing, typewriting, or any other intentional reduction to tangible form. See California Commercial Code 1201
• 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