California Financial Code ARTICLE 2 - General Definitions
- Section 5100.
When used in this division, the words and phrases set forth in this article shall have the meanings given in this article unless the context...
- Section 5100.2.
For purposes of this division:(a) Any reference to regulations of the federal Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation shall...
- Section 5100.5.
“Affiliated person” of a savings association means the following:(a) A director, officer, or controlling person of the savings association.(b) A spouse of a director, officer, controlling person...
- Section 5100.6.
“Affiliate” of a savings association, unless otherwise defined, includes any corporation, business trust, unincorporated association or other similar organization which meets the criteria of subdivision...
- Section 5100.7.
“Controlling person” of a savings association means any person or entity which (a) either directly or indirectly or acting in concert with one or more...
- Section 5100.8.
“Immediate family” of any natural person means any of the following (whether by the full or half blood or by adoption):(a) The person’s spouse, father, mother,...
- Section 5100.9.
“Institution-affiliated party” means any of the following:(a) Any director, officer, employee or controlling stockholder of, or agent for, a savings association.(b) Any person who has filed or...
- Section 5101.
“Approved by the members,” in the case of a mutual association, means approved by a majority of all votes cast at a duly held regular...
- Section 5102.
(a) “Association” or “savings association” means a mutual or stock savings association, savings and loan association or savings bank subject to the provisions of this division,...
- Section 5103.
“Certificate of authority” means:(a) A certificate of authority to transact the business of an association, which is issued by the commissioner pursuant to this division.(b) An uncanceled...
- Section 5103.5.
“Commercial paper” means any note, draft, or bill of exchange which arises out of a current transaction or the proceeds of which have been or...
- Section 5104.
“Commissioner” means the Commissioner of Business Oversight.(Amended by Stats. 2013, Ch. 353, Sec. 58. (SB 820) Effective September 26, 2013. Operative July 1, 2013, by...
- Section 5105.
“Community” means a centralized area or locality in which a body of inhabitants is gathered in one group having common residential, social, or business interests....
- Section 5105.5.
“Consumer loan” means a loan for personal, family, or household purposes, and loans reasonably incident thereto, and may be made as either open-end or closed-end...
- Section 5105.8.
“Corporate debt security” means a marketable obligation, evidencing the indebtedness of any corporation in the form of a bond, note, or debenture, or both note...
- Section 5106.
“Department” means the Department of Business Oversight.(Amended by Stats. 2014, Ch. 401, Sec. 28. (AB 2763) Effective January 1, 2015.)
- Section 5107.
“Financial institution” means a thrift institution, commercial bank, or trust company.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
- Section 5108.
“Impaired condition” means a condition in which the assets of an association in the aggregate do not have a value, as determined in accordance with...
- Section 5109.
“Mutual association” means an association for which the articles of incorporation do not authorize the issuance of capital stock.(Added by Stats. 1983, Ch. 1091, Sec.
- Section 5110.
“Member” means a person holding a savings account of a mutual association. A joint and survivorship or other multiple owner constitutes a single membership.(Added by...
- Section 5111.
“Mutual capital certificate” means a certificate evidencing an investment in a mutual association and issued pursuant to provisions of this division.(Added by Stats. 1983, Ch....
- Section 5112.
“Net worth certificate” means a certificate issued by an association in accordance with Section 13i of the Federal Deposit Insurance Act, as amended (12 U.S.C.,...
- Section 5113.
“Person” means any individual, domestic, or foreign corporation, entity, voting trust, business trust, partnership, limited liability company, association, syndicate, organized group of persons, or similar...
- Section 5114.
“Primarily residential property” means real estate on which there is located, or will be located pursuant to a real estate loan, any of the following:(a) A...
- Section 5114.5.
“Residential real estate” means any improved real property that is used or intended to be used as a residence and contains not more than four...
- Section 5115.
“Real estate loan” means a loan or other obligation secured by a lien on real estate, if:(a) The security property is real estate as defined pursuant...
- Section 5116.
“Savings account” means that part of the savings liability of an association that is credited to the holder of the account. A savings account may...
- Section 5117.
“Savings bank” means a savings bank organized under this division.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
- Section 5117.5.
“Savings institution” means a financial institution as defined in Section 5102.(Added by Stats. 1984, Ch. 868, Sec. 2.5.)
- Section 5118.
“Savings liability” means the aggregate amount of savings accounts of depositors, including interest credited to the accounts, less redemptions and withdrawals.(Added by Stats. 1983, Ch....
- Section 5119.
“Service corporation” means a corporation, other than a wholly owned subsidiary referred to in Section 7300 or a wholly owned subsidiary doing business as a...
- Section 5120.
“Statutory net worth” or “net worth” means the sum of the following:(a) Issued and outstanding capital stock.(b) Issued and outstanding capital certificates.(c) Paid-in surplus.(d) Retained earnings.(e) Pledged savings accounts of...
- Section 5121.
“Stock association” means an association for which the articles of incorporation authorize the issuance of capital stock.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
- Section 5122.
“Stockholder” means the holder of one or more shares of any class of capital stock of a capital stock association which is organized and operating...
- Section 5123.
“Thrift institution” means an association, a cooperative bank, a homestead association, a building and loan association, a federal association, a federal savings bank, a state...
- Section 5124.
“Withdrawal value” means the amount credited to a savings account less lawful deductions, as shown by the records of the association.(Added by Stats. 1983, Ch....
Last modified: October 22, 2018