2009 California Financial Code - Section 33040-33065 :: Article 3. Definitions

33040.  Subject to additional definitions contained in this division
which are applicable to specific provisions of this division and
unless the context otherwise requires, the definitions in this
article apply throughout this division.

33041.  "Act" includes omission.

33042.  "Affiliate", when used with respect to a specified person,
means any person controlling, controlled by, or under common control
with, such specified person, directly or indirectly through one or
more intermediaries.

33043.  "Agent", when used with respect to an issuer of payment
instruments, means any person whom such issuer has appointed as its
agent with authority to sell on behalf of the issuer payment
instruments issued by the issuer, provided that the issuer becomes
liable for the payment of each payment instrument issued by the
issuer which is sold by such person at the time when such payment
instrument is sold by such person. However, "agent", when used with
respect to an issuer of payment instruments, does not include any
officer or employee of such issuer, when acting as such at an office
of the issuer.

33044.  "Business day" means:
   (a) When used with respect to any act to be performed in this
state, any day other than (1) Saturday, (2) Sunday, and (3) any other
day which is provided for as a holiday in the Government Code.
   (b) When used with respect to any act to be performed in any
jurisdiction other than this state, any day other than a day which is
a legal holiday under the laws of such jurisdiction.

33045.  "California agent", when used with respect to an issuer of
payment instruments, means an agent of such issuer which is
authorized to sell or sells in this state payment instruments issued
by the issuer.

33045.5.  "Commissioner" means the Commissioner of Financial
Institutions or any person to whom the Commissioner of Financial
Institutions delegates the authority to act for the Commissioner of
Financial Institutions in this matter.

33046.  "Control", when used with respect to a specified person,
means possession, direct or indirect, of the power to direct or cause
the direction of the management and policies of such specified
person, whether through the ownership of voting securities, by
contract (other than a commercial contract for goods or nonmanagement
services), or otherwise; provided, however, that no natural person
shall be deemed to control a person solely on account of being a
director, officer, or employee of such person.

33047.  "Controlling person", when used with respect to a specified
person, means any person who controls such specified person, directly
or indirectly through one or more intermediaries.

33048.  (a) "Foreign currency" means any currency other than United
States currency.
   (b) "Foreign currency," when used with respect to any payment
instrument, means a payment instrument which is denominated in a
foreign currency.

33049.  To "include" means by way of enlargement and not by way of
limitation.

33050.  "Insolvent", when used with respect to any person, means a
person who has ceased to pay his debts in the ordinary course of
business, who cannot pay his debts as they become due, or whose
liabilities exceed his assets.

33051.  "Insured bank" means any bank the deposits of which are
insured by the Federal Deposit Insurance Corporation. However,
"insured bank" does not include any office of a foreign (other
nation) bank, as defined in Section 1700, other than an office which
is insured by the Federal Deposit Insurance Corporation.

33052.  "Insured credit union" means any credit union the member
accounts of which are insured or guaranteed as provided in Section
14858 of the Financial Code.

33053.  "Insured savings and loan association" or "insured savings
association" means any savings association the accounts of which are
insured by the Federal Deposit Insurance Corporation.

33054.  To "issue", when used with respect to any regulation or
order, includes to adopt, amend, repeal, or rescind.

33055.  "License" means a license issued under this division.

33056.  "Licensee" means a corporation which is licensed under this
division to engage in the business of selling in this state payment
instruments issued by it.

33057.  "Officer" means:
   (a) When used with respect to a corporation, any person appointed
or designated as an officer of such corporation by or pursuant to
applicable law or the articles of incorporation or bylaws of the
corporation or any person who performs with respect to the
corporation functions usually performed by an officer of a
corporation; and
   (b) When used with respect to a specified person other than a
natural person or a corporation, any person who performs with respect
to such specified person functions usually performed by an officer
of a corporation with respect to such corporation.

33058.  "Order" means any approval, consent, authorization,
exemption, denial, prohibition, or requirement applicable to a
specific case issued by the commissioner, including any condition
thereof. "Order" does not include any license issued by the
commissioner but does include any condition of such license and any
written agreement made by any person with the commissioner under this
division.

33059.  (a) "Payment instrument" means:
   (1) Any instrument (whether or not negotiable) for the
transmission or payment of money which is designated on its face by
the term "money order" or by any substantially similar term; or
   (2) Any check, draft, or other instrument (whether or not
negotiable) for the transmission or payment of money, if payable on
demand.
   (b) Notwithstanding the provisions of paragraph (2) of subdivision
(a), "payment instrument" does not include the following:
   (1) Any travelers check.
   (2) Any credit card voucher.
   (3) Any letter of credit.
   (4) Any instrument which is redeemable by the issuer in goods or
services.

33060.  To "permit", when used with respect to a licensee's
permitting an agent to perform an act, means for such licensee to
fail to use its best efforts to prevent such agent from performing
such act, under circumstances where the licensee knows or should know
that it is probable that the agent will perform the act.

33061.  "Person" means any natural person, proprietorship, joint
venture, partnership, trust, business trust, syndicate, association,
joint stock company, corporation, limited liability company,
government, agency of any government, or any other organization;
provided, however, that "person", when used with respect to acquiring
control of or controlling a specified person, includes any
combination of two or more persons acting in concert.

33062.  "Regulation" means any published regulation, rule, or
standard of general application issued by the commissioner.

33064.  "Travelers check" means any instrument for the payment of
money which:
   (a) Is designated on its face by the term "travelers check" or by
any substantially similar term or is commonly known and marketed as a
travelers check by a corporation licensed as an issuer of travelers
checks in this state on or prior to January 1, 1978, and not also by
the term "money order" or by any substantially similar term;
   (b) (1) If issued in United States currency, is in the sum of ten
dollars ($10) or a whole multiple thereof, if less than one hundred
dollars ($100), or in the sum of one hundred dollars ($100) or a
whole multiple thereof;
   (2) If issued in any foreign currency, is in an even denomination
of such currency;
   (c) Contains a provision for a specimen signature of the purchaser
to be completed at the time of purchase; and
   (d) Contains a provision for a countersignature of the purchaser
to be completed at the time of negotiation.

33065.  "United States currency", when used with respect to any
payment instrument, means a payment instrument which is denominated
in United States currency.