Terms Used In California Codes > Health and Safety Code > Division 31 > Part 4 > Chapter 3 - Program Priorities

• area median income: means the median family income of a geographic area of the state, as annually estimated by the United States Department of Housing and Urban Development pursuant to Section 8 of the United States Housing Act of 1937. See California Health and Safety Code 50093
• 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.
• insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage guaranty insurance: means either of the following:

  California Health and Safety Code 51603

• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23