Terms Used In California Codes > Insurance Code > Division 1 > Part 2 > Chapter 5 > Article 2 - Comprehensive Definitions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Casualty broker-agent: means a person licensed pursuant to Section 1625. See California Insurance Code 33.5
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• department: means State Department of Health Services. See California Health and Safety Code 20
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• insurance agent: as used in this chapter does not include a life agent as defined in this article. See California Insurance Code 1621
• license: includes a certificate of convenience and a permanent license, and the term "persons who are licensed" includes the holders of any such certificate or the license, but these definitions and the use of those terms in this chapter shall not confer upon a certificate of convenience or any holder thereof any property right in or to the certificate, the certificate being and remaining only a temporary permit, issued as a matter of convenience, allowing the transaction of insurance without a permanent license, but within the limits, and subject to the conditions of the certificate of convenience issued and the laws applicable thereto. See California Insurance Code 1627
• licensee: means an insurer, agent, broker, or any other person who is required to be licensed by the department. See California Insurance Code 38.6
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• organization: means any legal entity other than a natural person. See California Insurance Code 1628
• 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.
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• Personal property: All property that is not real property.
• Property broker-agent: means a person licensed pursuant to Section 1625. See California Insurance Code 33.5
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23