California Public Utilities Code 5362 – With respect to a motor vehicle used in the transportation of persons …
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With respect to a motor vehicle used in the transportation of persons for compensation by a charter-party carrier of passengers, “owner” means the corporation or person who is registered with the Department of Motor Vehicles as the owner of the vehicle, or who has a legal right to possession of the vehicle pursuant to a lease or rental agreement.
(Added by Stats. 1988, Ch. 1093, Sec. 11.)
Terms Used In California Public Utilities Code 5362
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC