Terms Used In California Codes > Food and Agricultural Code > Division 10 > Chapter 2 > Article 6 - Collection and Disposition of Money

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
• commission: means a county transportation commission created pursuant to Chapter 2 (commencing with Section 130050). See California Public Utilities Code 130002
• 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

• County: includes city and county. See California Public Utilities Code 18
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Notice: includes all papers and orders required to be served in any proceedings before any court, board, or officer, or when required by law to be served independently of such proceeding. See California Government Code 26660
• Personal property: All property that is not real property.
• 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}