Terms Used In California Codes > Government Code > Title 2 > Division 4 > Part 2 > Chapter 4.5 > Article 3 - Custody of Securities

• 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}
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• County: includes city and county. See California Government Code 19
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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}
• Grantor: The person who establishes a trust and places property into it.
• 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}
• property: includes property real and personal. See California Civil Code 14
• qualified trust company: means the trust department of any state or national bank in this state or a trust company authorized to act as such in this state. See California Government Code 16625
• State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
• Trustee: A person or institution holding and administering property in trust.