Title FIN, California Fin. Code

“Control”, when used with respect to a specified person, means possession, direct or indirect, of the power to do either of the following: (a) To vote 35 percent or more of any class of the voting securities issued by the specified person. (b) To direct or cause the direction of …

“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. (Added by Stats. 1977, Ch. 1164.)

“Corporate name” means the name of a corporation as set forth in the articles of incorporation of such corporation. (Added by Stats. 1977, Ch. 1164.)

“Financial institution” means any commercial bank, trust company, savings and loan association, credit union, industrial loan company, insurance company, or person engaged in the business of lending money. (Added by Stats. 1977, Ch. 1164.)

“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. (Added by Stats. 1977, Ch. 1164.)

To “issue”, when used with respect to any regulation or order, includes to adopt, amend, repeal, or rescind. (Added by Stats. 1977, Ch. 1164.)

“License” means a license issued under this division authorizing a California corporation to transact business as a business and industrial development corporation. (Added by Stats. 1977, Ch. 1164.)

“Licensee” means a California corporation which is licensed under this division. (Added by Stats. 1977, Ch. 1164.)

“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 such corporation or any person who performs with respect to such corpo…

“Order” means any approval, consent, authorization, exemption, denial, prohibition, or requirement applicable to a specific case issued by the commissioner. “Order” includes any condition of a license and any agreement made by any person with the commissioner under this division.…

“Parent,” when used with respect to a specified person other than a natural person, means any person other than a natural person which controls the specified person, directly or indirectly through one or more intermediaries. (Added by Stats. 1987, Ch. 867, Sec. 6.)

“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 “per…

“Principal shareholder”, when used with respect to a corporation, means any person who owns, directly or indirectly, of record or beneficially, securities representing 10 percent or more of the voting power of such corporation. (Added by renumbering Section 31047 by Stats. 1982, …

To “provide financing assistance” to a person includes: (a) To lend money or otherwise extend credit to such person; (b) To purchase securities issued by such person, either directly or indirectly through an underwriter; and (c) To lease property to such person. (Added by renumbe…

To “provide management assistance” to a person includes: (a) To provide management or technical advice to such person; and (b) To provide management or technical services to such person. (Added by renumbering Section 31049 by Stats. 1982, Ch. 1570, Sec. 7.)

“Regulation” means any published regulation, rule, or standard of general application issued by the commissioner. (Amended by Stats. 1996, Ch. 1064, Sec. 626. Effective January 1, 1997. Operative July 1, 1997.)

“Security” has the meaning set forth in Section 25019 of the Corporations Code. (Added by Stats. 1977, Ch. 1164.)

“Subsidiary”, when used with respect to a specified person other than a natural person, means any person other than a natural person controlled by such specified person, directly or indirectly through one or more intermediaries. (Added by Stats. 1977, Ch. 1164.)

“Commissioner” means the Commissioner of Financial Protection and Innovation, or other person to whom the commissioner delegates the authority to act for the commissioner in the particular matter. (Amended by Stats. 2022, Ch. 452, Sec. 157. (SB 1498) Effective January 1, 2023.)

“Voting power” has the meaning set forth in Corporations Code Section 194.5. (Added by Stats. 1977, Ch. 1164.)

Subject to additional definitions contained in Division 15 (commencing with Section 31000) and this division which are applicable to specific provisions of these divisions and unless the context otherwise requires, the definitions in this article apply throughout this division. (…

“Alternative energy system” means any device or combination of devices which conserves or produces heat, process heat, space heating, water heating, steam, space cooling, refrigeration, mechanical energy, electricity, or energy in any form convertible to these uses, which does no…

“Conventional energy fuel” means any fuel derived from petroleum deposits, including but not limited to oil, heating oil, gasoline, fuel oil, or natural gas, including liquified natural gas, or nuclear fissionable materials. “Conventional energy fuel” includes energy produced by …

“Small business” means a business defined as an eligible small business as set forth in Section 121.3-10 of Part 121, Chapter 1, Title 13 of the Code of Federal Regulations. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“State Controller” means the State Controller or any person to whom the State Controller delegates the authority to act for him or her in the particular matter. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Rules Committee” means the rules committee of the State Senate or any person to whom the rules committee of the State Senate delegates to act for it in the particular matter. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Speaker” means the Speaker of the State Assembly or any person to whom the Speaker of the Assembly delegates the authority to act for him in the particular matter. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Corporation” means the State Assistance Fund for Enterprise Business and Industrial Development Corporation. (Amended by Stats. 2004, Ch. 25, Sec. 1. Effective March 17, 2004.)

“Energy Commission” means the State Energy Resources Conservation and Development Commission. (Amended by Stats. 2015, Ch. 303, Sec. 161. (AB 731) Effective January 1, 2016.)

“ Alternative energy business firm” means any small business engaged primarily in the business of the design, manufacture, production, assembly, distribution, marketing, sale, transportation, or installation of an alternative energy system, or, any small business engaged primaril…

“Board” means the board of directors of the corporation. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“President” means the president of the corporation. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Finance officer” means the director of the finance division of the corporation. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Governor” means the Governor of the State of California or any person to whom the Governor of the State of California delegates the authority to act for him in the particular matter. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Savings-investment ratio” means an analysis of the proposed system in which energy cost savings are added to other net benefits and costs from operation, maintenance, replacements, depreciation, tax credits and financing costs, and divided by initial investment costs. All benefi…

“Life cycle cost analysis” means an analysis of a proposed system in which all costs and benefits are evaluated over the expected life of the system. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Minimum economic feasibility” means that the net savings or benefits of an investment exceed the net costs. (Added by Stats. 1980, Ch. 819, Sec. 1.)

“Special projects” means any financing assistance or other program undertaken by the corporation pursuant to Article 3 (commencing with Section 32720) of Chapter 6. (Added by Stats. 1980, Ch. 819, Sec. 1.)

For purposes of this division, a national banking association or federal savings association is deemed to be a corporation. (Amended by Stats. 1995, Ch. 480, Sec. 98. Effective October 2, 1995.)

For purposes of this division, depository corporations are divided into the following classes: (a) Banks. (b) Savings associations. (c) Industrial loan companies. (Added by Stats. 1995, Ch. 480, Sec. 99. Effective October 2, 1995.)

The provisions of the General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code) shall apply to any transaction which is subject to this division. However, whenever any provision of this division or of any regulation or order issued und…

Any certificate of authority, license, or other authorization issued under subdivision (b) of Section 4858, subdivision (b) of Section 4879.12, subdivision (b) of Section 4888, subdivision (b) of Section 4928, or Section 4948 or 4949 is deemed to have been issued under the provis…

(a) References in this division to the voting of the shares of a California state depository corporation shall be construed in accordance with Section 111 of the Corporations Code. (b) If the articles of a California state depository corporation provide for more or less than one …

References in this division to shareholders’ equity mean shareholders’ equity determined in accordance with generally accepted accounting principles, subject (a) in the case of California state banks or California industrial loan companies, to the provisions of Section 463, and (…

In determining for purposes of this division whether the shareholders’ equity of a California state depository corporation will be adequate: (a) In case the corporation is, or is to convert into, a California state bank, the commissioner shall consider the factors specified in Se…

A California state depository corporation may merge with a corporation or other business entity that is not a depository corporation if the California state depository corporation is the surviving corporation of that merger. The merger of a corporation or other business entity wi…