California Financial Code ARTICLE 1 - Definitions

• Section 22000.
  This division is known and may be cited as the “California Financing Law.”(Amended by Stats. 2017, Ch. 475, Sec. 4. (AB 1284) Effective October 4,
• Section 22001.
  (a) This division shall be liberally construed and applied to promote its underlying purposes and policies, which are:(1) To ensure an adequate supply of credit to borrowers...
• Section 22001.a.
  (a) This division shall be liberally construed and applied to promote its underlying purposes and policies, which are: (1) To ensure an adequate supply of credit to...
• Section 22002.
  To accomplish its underlying purposes and policies, this division creates a class of exempt persons pursuant to Section 1 of Article XV of the California...
• Section 22003.
  Unless the context otherwise requires, the definitions given in this article govern the construction of this division.(Repealed and added by Stats. 1994, Ch. 1115, Sec....
• Section 22003.5.
  “Assessment contract” means an agreement entered into between all property owners of record on real property and a public agency in which, for voluntary contractual...
• Section 22004.
  “Broker” includes any person who is engaged in the business of negotiating or performing any act as broker in connection with loans made by a...
• Section 22005.
  “Commissioner” means the Commissioner of Business Oversight.(Amended by Stats. 2013, Ch. 353, Sec. 65. (SB 820) Effective September 26, 2013. Operative July 1, 2013, by...
• Section 22006.
  As used in this division, the terms “security interest,” “accounts,” “chattel paper,” “documents,” “general intangibles,” “goods,” and “instruments” are as defined in the Uniform Commercial...
• Section 22007.
  (a) “Licensee” means any finance lender or broker who receives a license in accordance with this division.(b) This section shall remain in effect only until January 1,...
• Section 22007.a.
  (a) “Licensee” means any finance lender, broker, or program administrator who receives a license in accordance with this division.(b) This section shall become operative on January 1,...
• Section 22008.
  “Person” means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated...
• Section 22009.
  “Finance lender” includes any person who is engaged in the business of making consumer loans or making commercial loans. The business of making consumer loans...
• Section 22010.
  (a) “Finance lender” and “broker” do not include employees regularly employed at the location specified in the license of the finance lender or broker, except that...
• Section 22010.a.
  (a) “Finance lender,” “broker,” and “program administrator” do not include employees regularly employed at the location specified in the license of the finance lender, broker, or...
• Section 22011.
  A “regulatory ceiling provision” is a statement in a section or subdivision that specifies an original bona fide principal loan amount at or above which...
• Section 22012.
  (a) “Branch office license” means a license to engage in business as a finance lender or broker at a location other than the location identified in...
• Section 22013.
  (a) “Mortgage loan originator” means an individual who, for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application...
• Section 22014.
  (a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information, including the use...
• Section 22015.
  “PACE assessment” means a voluntary contractual assessment, voluntary special tax, or special tax, as described in subdivisions (a), (b), and (c) of Section 26054 of...
• Section 22016.
  “PACE program” means a program in which financing is provided for the installation of efficiency improvements on real property and funded through the use of...
• Section 22017.
  (a) “PACE solicitor” means a person authorized by a program administrator to solicit a property owner to enter into an assessment contract.(b) “PACE solicitor agent” means an...
• Section 22018.
  “Program administrator” means a person administering a PACE program on behalf of, and with the written consent of, a public agency. “Program administrator” does not...
• Section 22018.5.
  “Property owner” means all property owners of record on the property subject to the PACE assessment. (Added by Stats. 2017, Ch. 475, Sec. 16. (AB...
• Section 22019.
  “Efficiency improvement” means one or more permanent improvements fixed to real property financed through a PACE assessment.(Added by Stats. 2017, Ch. 475, Sec. 17. (AB...
• Section 22020.
  “Public agency” means a city, including a charter city, county, city and county, municipal utility district, community services district, community facilities district, joint powers authority,...

Last modified: October 22, 2018