Terms Used In California Codes > Health and Safety Code > Division 13 > Part 1 - EMPLOYEE HOUSING ACT

• Action: means an action for partition under this title. See California Code of Civil Procedure 872.010
• Affiliate: means a person that, directly or indirectly, owns at least 10 but less than 50 percent of the financial guaranty insurance corporation or that is at least 10 percent but less than 50 percent, directly or indirectly, owned by a financial guaranty insurance corporation. See California Insurance Code 12100
• Amortization: Paying off a loan by regular installments.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Asset-backed securities: means either of the following:

  California Insurance Code 12100

• Average annual debt service: means the amount of insured unpaid principal and interest on an obligation multiplied by the number of the insured obligations (assuming that each obligation represents a $1,000 par value), divided by the amount equal to the aggregate life of all of those obligations. See California Insurance Code 12100
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• City: includes "city and county. See California Insurance Code 15
• City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
• Collateral: means any of the following:

  California Insurance Code 12100

• Commercial real estate: means income-producing real property other than residential property consisting of less than five units. See California Insurance Code 12100
• Commission: means the State Energy Resources Conservation and Development Commission. See California Health and Safety Code 44275
• Commission: as used in this part , means the Commission of Housing and Community Development. See California Health and Safety Code 17003
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contingency reserve: means an additional liability reserve established to protect policyholders against the effects of adverse economic cycles or other unforeseen circumstances. See California Insurance Code 12100
• Continuance: Putting off of a hearing ot trial until a later time.
• Conviction: A judgement of guilt against a criminal defendant.
• Cost-effectiveness: means dollars provided to a project pursuant to subdivision (d) of Section 44283 for each ton of covered emission reduction attributed to a project or to the program as a whole. See California Health and Safety Code 44275
• County: includes "city and county. See California Code of Civil Procedure 17
• County: includes city and county. See California Health and Safety Code 14
• County: includes "city and county. See California Insurance Code 14
• Covered vehicle: includes any vehicle or piece of equipment powered by a covered engine. See California Health and Safety Code 44275
• Credit default swap: means an agreement referencing credit derivative definitions published from time to time by the International Swap and Derivatives Association, Inc. See California Insurance Code 12100
• Department: as used in this part , means the Department of Housing and Community Development. See California Health and Safety Code 17004
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• District: means a county air pollution control district or an air quality management district. See California Health and Safety Code 44275
• Employee: as used in this part , does not include any of the following:

  California Health and Safety Code 17005

• Employee housing: as used in this part , means any portion of any housing accommodation, or property upon which a housing accommodation is located, if all of the following factors exist:

  California Health and Safety Code 17008

• Enforcement agency: as used in this part , means the Department of Housing and Community Development, or any city, county, or city and county which has assumed responsibility for the enforcement of this part, pursuant to Section 17050. See California Health and Safety Code 17007
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Excess spread: means , with respect to any insured issue of asset-backed securities, the excess of (A) the scheduled cashflow on the underlying assets that is reasonably projected to be available, over the term of the insured securities after payment of the expenses associated with the insured issue, to make debt service payments on the insured securities over (B) the scheduled debt service requirements on the insured securities, provided that this excess is held in the same manner as collateral is required to be held under subdivision (e). See California Insurance Code 12100
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Financial guaranty insurance: means a surety bond, an insurance policy or, when issued by an insurer, an indemnity contract and any guarantee similar to the foregoing types, under which loss is payable upon proof of occurrence of financial loss to an insured claimant, obligee, or indemnitee as a result of any of the following events:

  California Insurance Code 12100

• Financial guaranty insurance corporation: means an insurer transacting financial guaranty insurance. See California Insurance Code 12100
• Foreign: means not organized under the laws of this State, whether or not admitted. See California Insurance Code 27
• Fraud: Intentional deception resulting in injury to another.
• Fund: as used in this part , means the Employee Housing Regulation Fund established by Section 17036. See California Health and Safety Code 17008.7
• Fund: means the Air Pollution Control Fund established pursuant to Section 43015. See California Health and Safety Code 44275
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governmental unit: means a state, territory, or possession of the United States of America, the District of Columbia, the country of Canada, a province of Canada, the United Kingdom, a public authority of the United Kingdom, a member country of the Organization for Economic Co-operation and Development having a sovereign rating in one of the top two generic lettered rating classifications by a securities rating agency acceptable to the commissioner, a municipality, or a political subdivision of any of the foregoing, or any public agency or instrumentality thereof. See California Insurance Code 12100
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Incremental cost: means the cost of the project less a baseline cost that would otherwise be incurred by the applicant in the normal course of business. See California Health and Safety Code 44275
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurable risk: means that the obligation on an uninsured basis has been determined to be not less than investment grade. See California Insurance Code 12100
• Investment grade: means that the obligation or parity obligation of the same issuer is rated in one of the top four generic lettered rating classifications by a securities rating agency acceptable to the commissioner, that the obligation or parity obligation of the same issuer, without regard to financial guaranty insurance, has been identified in writing by that rating agency as an insurable risk deemed to be of investment grade quality, or that the obligation or parity obligation of the same issuer has been determined to be investment grade (as indicated by a category 1 or 2 rating) by the Securities Valuation Office of the National Association of Insurance Commissioners. See California Insurance Code 12100
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• licensee: means an insurer, agent, broker, or any other person who is required to be licensed by the department. See California Insurance Code 38.6
• Liquidated: means that all moneys for a specified fiscal year have been spent by a district to reimburse grantees for valid and eligible project invoices and district administrative costs. See California Health and Safety Code 44275
• Mortgage: includes a trust deed, "mortgagor" includes a trustor under such trust deed, "mortgagee" includes a beneficiary under such trust deed, or a trustee exercising powers or performing duties granted to or imposed upon him thereunder, and "lien" in respect to real or personal property includes a charge or incumbrance arising out of a trust deed. See California Insurance Code 29
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Municipal bonds: means municipal obligation bonds and special revenue bonds. See California Insurance Code 12100
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Parent: means a person that, directly or indirectly, owns at least 50 percent of a financial guaranty insurance corporation. See California Insurance Code 12100
• 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.
• Permanent single-family employee housing: as used in this part , means single-family detached dwellings, mobilehomes, as defined in Section 18008, manufactured homes, as defined in Section 18007, or factory-built housing, as defined in Section 19971, constructed and maintained in accordance with applicable state or federal laws, including required permits and inspections. See California Health and Safety Code 17010
• Person: as used in this part , includes any natural person, firm, association, organization, partnership, business trust, company, joint stock company, corporation, limited liability company, joint venture, or other organizations of persons. See California Health and Safety Code 17009.5
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• Personal property: includes money, goods, chattels, things in action, and evidences of debt. See California Code of Civil Procedure 17
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Program: means the Carl Moyer Memorial Air Quality Standards Attainment Program created by subdivision (a) of Section 44280. See California Health and Safety Code 44275
• Property: includes real and personal property. See California Code of Civil Procedure 872.010
• Recaptured: means those moneys that are returned to a district or the state board by a grantee because that grantee did not meet contractual obligations. See California Health and Safety Code 44275
• Reinsurance: means cessions qualifying for credit under Section 12121. See California Insurance Code 12100
• Resident-employment housing: as used in this part , means apartment houses, hotels, motels, or dwellings, where living quarters are provided for five or more employees employed in the management, maintenance, or operation of an apartment house, hotel, motel, or dwellings. See California Health and Safety Code 17006
• Returned: means those moneys sent by a district to the state board for reallocation because those moneys are not liquidated by a liquidation deadline. See California Health and Safety Code 44275
• secured: means any of the following:

  California Insurance Code 12100

• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Subsidiary: means a person that, directly or indirectly, is at least 50 percent owned by a financial guaranty insurance corporation. See California Insurance Code 12100
• Summons: Another word for subpoena used by the criminal justice system.
• Title report: includes a preliminary report, guarantee, binder, or policy of title insurance. See California Code of Civil Procedure 872.010
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Will: includes codicil. See California Code of Civil Procedure 17