Terms Used In California Codes > Government Code > Title 3 > Division 2 > Part 2 > Chapter 15 > Article 7 - Funds

• administrator: means a person who performs or arranges the collection, maintenance, or disbursement of moneys to compensate any party for claims or repairs pursuant to a service contract, and who also performs or arranges any of the following activities on behalf of service contract sellers:

  California Business and Professions Code 9855

• Bonds: as used in this chapter means the written evidence of any obligation incurred by the board payable out of revenues as provided in this chapter in order to secure funds with which to carry out the purposes of this chapter irrespective of the form of such obligation whether in the form of bonds, notes, debentures, interest bearing certificates or other forms prescribed by the board. See California Government Code 26486
• Bureau: means the Bureau of Household Goods and Services. See California Business and Professions Code 9801
• City: includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town. See California Financial Code 13
• Contract: A legal written agreement that becomes binding when signed.
• 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 Financial Code 14
• Director: means the Director of Consumer Affairs. See California Business and Professions Code 9801
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Revenue: as used in this chapter shall mean all fees, rates, charges, rentals or other income and revenue actually received or receivable by or for the account of the board from the operation of any particular project including without limiting the generality of the foregoing interest allowed on any moneys or securities and any proceeds derived from the sale of any securities and any consideration in any way derived from the particular project owned, operated or maintained by the board. See California Government Code 26487
• seller: means a person who sells or offers to sell a service contract to a service contractholder, including a person who is the obligor under a service contract sold by the seller, manufacturer, or repairer of the product covered by the service contract. See California Business and Professions Code 9855
• Service contract: means a contract in writing to perform, over a fixed period of time or for a specified duration, services relating to the maintenance, replacement, or repair of consumer goods and may include provisions for incidental payment of indemnity under limited circumstances, including, but not limited to, power surges, food spoilage, or accidental damage from handling. See California Business and Professions Code 9855
• Service contract reimbursement insurance policy: means a policy of insurance issued by an insurer admitted to do business in this state providing coverage for all obligations and liabilities incurred by a service contract seller under the terms of the service contracts sold in this state by the service contract seller to a service contractholder. See California Business and Professions Code 9855
• Service contractholder: means a person who purchases or receives a service contract from a service contract seller. See California Business and Professions Code 9855
• Service contractor: means a service contract administrator or a service contract seller. See California Business and Professions Code 9855
• State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21