Terms Used In California Codes > Government Code > Title 2 > Division 3 > Part 3 > Chapter 11 - Organization and Management

• 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.
• 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}
• 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

• department: refer to the Director and Department of Finance, respectively, unless the context otherwise requires. See California Government Code 13001
• Election: means any election including a primary that is provided for under this code. See California Elections Code 318
• 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.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Measure: means any constitutional amendment or other proposition submitted to a popular vote at any election. See California Elections Code 329
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• state agency: includes every state office, officer, department, division, bureau, board, and commission. See California Government Code 11000
• Trustee: A person or institution holding and administering property in trust.
• Voter: means any elector who is registered under this code. See California Elections Code 359