Terms Used In California Codes > Health and Safety Code > Division 12 > Part 5 > Chapter 4 > Article 1 - Determination and Notice

• company: means a premium finance agency. See California Financial Code 18565
• Contract: A legal written agreement that becomes binding when signed.
• insured: means the person who has purchased or arranged to purchase an insurance contract and who enters into a premium finance agreement with a premium finance agency. See California Financial Code 18562
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• premium finance agreement: means a loan contract, note, agreement or obligation by which an insured agrees to pay to a company in installments the principal amount advanced by the company to an insurer or producer in payment of premium on an insurance contract or contracts, plus charges, with the assignment as security therefor of the unearned premiums, accrued dividends or loss payments, the final installment due date of the agreement not to extend beyond the term of the insurance contract included in the agreement having the latest expiration date. See California Financial Code 18564
• Weeds: as used in this part , means vegetation growing upon streets, sidewalks, or private property in any county, including any fire protection district and may include any of the following:

  California Health and Safety Code 14875