Terms Used In California Codes > Public Utilities Code > Division 1 > Part 1 > Chapter 4 > Article 5 - Stocks and Security Transactions

• Agency: means the Labor and Workforce Development Agency. See California Labor Code 18.5
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Commission: means the Public Utilities Commission created by §. See California Public Utilities Code 20
• 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 Labor Code 14
• Department: means Department of Industrial Relations. See California Labor Code 19
• Director: means Director of Industrial Relations. See California Labor Code 20
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• 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.
• Labor Commissioner: means Chief of the Division of Labor Standards Enforcement. See California Labor Code 21
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Labor Code 18
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
• Violation: includes a failure to comply with any requirement of the code. See California Labor Code 22