California Codes > Water Code > Division 6 > Part 2.6 > Chapter 2 – Definitions
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Terms Used In California Codes > Water Code > Division 6 > Part 2.6 > Chapter 2 - Definitions
- 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.
- 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.
- Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Water Code 10