reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.4 - References to Corporations or Limited Liability Companies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Subchapter, unless otherwise expressly provided,
						references to corporations or limited liability companies or to aspects of
						corporations or limited liability companies apply to all types of corporations
						or limited liability companies, whether for profit, nonprofit, or of any other
						type. For the sake of convenience, references in this Subchapter to
						corporations or limited liability companies and to aspects of corporations or
						limited liability companies are set forth in terms appropriate to corporations
						or limited liability companies for profit. However, whenever any reference in
						this Subchapter to a corporation or limited liability company or to an aspect
						of a corporation or limited liability company is applicable to a type of
						corporation or limited liability company other than a corporation or limited
						liability company for profit, if the term of such reference is not appropriate
						to such type of corporation or limited liability company, the term of the
						reference shall be construed to be the closest equivalent term of reference
						appropriate to the type of corporation or limited liability
						company.
1.
						Amendment of section heading, section and NOTE filed 8-11-2015; operative
						10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Section
						  2031,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.5 - Financial Statements and Accounting Items-Generally Accepted Accounting Principles

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In this Subchapter, unless otherwise expressly provided,
						references to financial statements and references to assets, liabilities,
						income, shareholders' equity, and similar accounting items mean such financial
						statements and such accounting items prepared or determined in conformity with
						United States generally accepted accounting principles then applicable, fairly
						presenting in conformity with generally accepted accounting principles the
						matters which they purport to present, subject to any specific accounting
						treatment required by the Commissioner, this Subchapter, the Money Transmission
						Act, or any other applicable law.
1. Change
						without regulatory effect amending section filed 8-19-97 pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
2. Amendment of section and NOTE
						filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Division 1.2, Financial
						  Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.6 - Financial Statements-Certification

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever the Commissioner or this Subchapter requires
						that a financial statement be filed with the Commissioner but does not require
						that such financial statement be set forth on a form provided by the
						Commissioner, if the financial statement is available as certified by an
						independent certified public accountant in accordance with United States
						generally accepted accounting principles, the financial statement as so
						certified shall be filed with the Commissioner.
1. Change
						without regulatory effect amending section filed 8-19-97 pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
2. Amendment of section and NOTE
						filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Division 1.2, Financial
						  Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.7 - Financial Statements-Consolidating Statements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever this Chapter requires that a consolidating
						financial statement of a person be filed with the Commissioner, such statement
						shall include a schedule of eliminating entries, but need not include detail
						regarding any non-significant subsidiary of such person.
1. Change
						without regulatory effect amending section filed 8-19-97 pursuant to section
						100, title 1, California Code of
						Regulations (Register 97, No. 34).
2. Amendment of section and NOTE
						filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Division 1.2, Financial
						  Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.8 - Actions of Courts and Governmental Agencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Whenever this Chapter requires that information be
						provided regarding an action taken by a court or a governmental agency (for
						example, the suspension or revocation of a license or other authorization or
						qualification to transact a business), information need not be provided
						regarding any such action which has been reversed or vacated.
1.
						Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Division 1.2, Financial
						  Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 1 - Citation and Construction › Section 80.9 - Forms of Payment Instruments

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of this Subchapter and the Money
						Transmission Act, payment instruments issued by a person which are identical in
						form except for the following differences shall be deemed to be in the same
						form:
(a) Differences in face amount,
					 provided that such face amounts are denominated in the same currency.
(b) Differences in the name or logo, or both,
					 of the agent who sells the payment instruments on behalf of the person,
					 provided that such names and logos are set forth in substantially the same
					 style.
1.
						Amendment of first paragraph and NOTE filed 8-11-2015; operative 10-1-2015
						(Register 2015, No. 33).
Note: Authority cited: Sections
						  321 and
						  334,
						  Financial Code. Reference: Section
						  2106,
						  Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 1 - General Provisions › Section 80.100 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Subarticle contains regulations relating to
						  definitions. This Part contains general provisions relating to definitions.
						  Part 2 (commencing with Section
						  80.125) of this Subarticle
						  contains regulations relating to definitions of terms in the Money Transmission
						  Act. Part 3 (commencing with Section
						  80.150) of this Subarticle
						  contains definitions for this Subchapter.
1.
						  Amendment of section and NOTE filed 8-11-2015; operative 10-1-2015 (Register
						  2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2003,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.125 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Part contains regulations relating to definitions
						  of terms in the Money Transmission Act.
1.
						  Amendment of part heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2003,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.125.10 - Advertising

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
As used in Financial Code Section
						  2030,
						  "advertise, solicit, or hold itself out" means advertising itself as being in
						  the business of providing money transmission in this state, soliciting for
						  itself money transmission business in this state, or holding itself out as
						  being in the business of providing money transmission in this
						  state.
1. New
						  section filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2030,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.126 - Agent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Agent," when referring to an agent of a licensee,
						  means an agent as defined in Financial Code Section
						  2003(b).
1.
						  Amendment of section heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Sections
							 2003 and
							 2030,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.126.10 - Agent of Payee

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For
						purposes of Financial Code section
						2010,
						subdivision (1), the receipt of money or other monetary value by an agent of
						the payee from a payor is the equivalent of receipt of money or other monetary
						value directly by the payee. The agent of a payee has not received money for
						transmission.
(b) Exclusion. The
						exemption in Financial Code section
						2010,
						subdivision (1), does not apply to an agent of a payor or sender.
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.126.20 - Agent of Payee Exemption is Unavailable for Stored Value

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The exemption in Financial Code section
						  2010,
						  subdivision (1), does not apply to the sale or issuance of stored value, as
						  defined in Financial Code section
						  2003,
						  subdivision (x).
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.126.30 - Goods or Services

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Financial Code section
						  2010,
						  subdivision (1), "goods or services" means any good or service, other than
						  money transmission services as defined in Financial Code section
						  2003,
						  subdivision (q), for which the payor has a payment obligation to the payee.
						  "Services" include charitable activities engaged in by organizations that have
						  received recognition of tax exemption under Section
						  501(c)(3) of the
						  Internal Revenue Code.
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.127 - Insured Bank. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of NOTE filed 4-7-97; operative 4-7-97 pursuant to Government Code
						  section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Section
							 33202,
							 Financial Code. Reference: Section
							 33051,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.128 - Payee

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Financial Code section
						  2010,
						  subdivision (1)(2), "payee" means the direct or indirect provider of goods or
						  services, who is owed payment of money or other monetary value from the payor
						  for the goods or services. A direct provider of a good or service has actual or
						  constructive possession of, or title to, a good or service. An indirect
						  provider enables the provision of goods or services even if it does not have
						  title to, or take actual or constructive possession of, the goods or services
						  provided.
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.128.10 - Payor

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Financial Code section
						  2010,
						  subdivision (1), "payor" means the direct or indirect recipient of goods or
						  services, who owes payment of money or monetary value to the payee for goods or
						  services. A direct recipient receives the good or service and owes payment for
						  it. An indirect recipient does not receive the good or service but owes payment
						  for it. "Payor" includes a recipient, located in a foreign country, of a good
						  or service from a payee located in the United States.
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.129 - Receiving Money for Transmission

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Receiving money for transmission," as defined in
						  Financial Code Section
						  2003, means
						  actually or constructively receiving, taking possession, or holding any money
						  or monetary value for transmission. It does not include only receiving
						  instructions, orders, or directions to transmit money or monetary
						  value.
1. New
						  section filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2003,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 2 - Definitions-Money Transmission Act › Section 80.130 - Transaction

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) For purposes of
						Financial Code section
						2010,
						subdivision (1), "transaction" means an instance in which there is a payment
						obligation between a payor and a payee.
(b) Series of Transactions. Where there is a
						series of transactions involving multiple pairs of payors and payees in order
						to complete settlement of funds, the exemption in Financial Code section
						2010,
						subdivision (1) applies to each transaction if an agency relationship is
						established by written contract between each respective agent and payee, and
						the other statutory requirements of Financial Code section
						2010,
						subdivision (1), are met.
1. New
						  section filed 6-7-2021; operative 10-1-2021 (Register 2021, No. 24). Filing
						  deadline specified in Government Code section
						  11349.3(a)
						  extended 60 calendar days pursuant to Executive Order
						  N-40-20.
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.150 - Scope

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
This Part contains definitions for this Subchapter.
						  Subject to additional definitions contained in this Subchapter which are
						  applicable to specific provisions of this Subchapter and unless the context
						  otherwise requires, the definitions in this Part apply throughout this
						  Subchapter.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.151 - Definitions in Money Transmission Act

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Subject to additional definitions contained in this
						  Subchapter which are applicable to specific provisions of this Subchapter and
						  unless this Subchapter otherwise provides or the context otherwise requires,
						  the definitions in Section
						  2003 of the Money Transmission Act
						  apply throughout this Subchapter.
1.
						  Amendment of section heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2003,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.152 - Percent Equity Security Owner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___percent equity security owner," when used with
						  respect to a corporation or other organization, means any person who owns,
						  directly or indirectly, of record or beneficially, the specified percentage or
						  more of any class of the equity securities of such corporation or other
						  organization.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.153 - Percent (Including Associates) Equity Security Owner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___ percent (including associates) equity security
						  owner," when used with respect to a corporation or other organization, means
						  any person who owns, directly or indirectly, of record or beneficially, equity
						  securities of such corporation or other organization which, when combined with
						  the equity securities of the corporation or other organization owned, directly
						  or indirectly, of record or beneficially, by all associates of such person,
						  constitute the specified percentage or more of any class of the equity
						  securities of the corporation or other organization.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.154 - Percent Voting Security Owner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___percent voting security owner," when used with
						  respect to a corporation or other organization, means any person who owns,
						  directly or indirectly, of record or beneficially, the specified percentage or
						  more of the voting securities of such corporation or other
						  organization.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.155 - Percent (Including Associates) Voting Security Owner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"___percent (including associates) voting security
						  owner," when used with respect to a corporation or other organization, means
						  any person who owns, directly or indirectly, of record or beneficially, voting
						  securities of such corporation or other organization which, when combined with
						  the voting securities of the corporation or other organization owned, directly
						  or indirectly, of record or beneficially, by all associates of such person,
						  constitute the specified percentage or more of the voting securities of the
						  corporation or other organization.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.156 - Associate

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Associate," when used to indicate a relationship with
						  a specified person who is related with a licensee or an applicant for a
						  license, means:
(a) Any corporation or
						other organization (other than the licensee or applicant or a majority-owned
						subsidiary of the licensee or applicant) of which the specified person is an
						executive officer or partner or is, directly or indirectly, the beneficial
						owner of 10 percent or more of any class of the equity securities.
(b) Any trust or other estate in which the
						specified person has a substantial beneficial interest or as to which the
						specified person serves as a trustee or in any similar fiduciary
						capacity.
(c) Any relative or
						spouse of the specified person, or any relative of such spouse, who has the
						same home as the specified person or who is a director or executive officer of
						the licensee or applicant or of any parent or subsidiary of the licensee or
						applicant.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.157 - Beneficial

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Beneficial," when used with respect to ownership of
						  securities by a specified person, includes, in addition to direct and indirect
						  beneficial ownership by such specified person, direct and indirect beneficial
						  ownership:
(a) By the spouse (except
						where legally separated) and minor children (including stepchildren and adopted
						children) of the specified person; and
(b) By any other relative of the specified
						person who has the same home as the specified person.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.158 - California Corporation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"California corporation" means a corporation which is
						  organized under the laws of the State of California.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.158.10 - California Limited Liability Company

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"California limited liability company" means an entity
						  formed under Title 2.6 of the Corporations Code.
1. New
						  section filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Sections
							 2003 and
							 2031,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.159 - Clearing Bank

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Clearing bank," when used with respect to a payment
						  instrument or stored value, means the bank on which such payment instrument or
						  stored value is drawn or at or through which such payment instrument or stored
						  value is payable.
1.
						  Amendment of section and NOTE filed 8-11-2015; operative 10-1-2015 (Register
						  2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.160 - Documented Nominee

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Documented nominee" has the meaning set forth in
						  Section 80.5302 of this
						  Chapter.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2084,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.161 - Equity Security

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Equity security" means any stock or similar security,
						  or any security convertible, with or without consideration, into such a
						  security or carrying any warrant or right to purchase such a security, or any
						  such warrant or right.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.162 - Executive Officer

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Executive officer," when used with respect to a
						  specified person (other than an individual), means the president, the
						  secretary, the chief financial officer, any vice-president in charge of a
						  principal business function (such as sales, administration, or finance), or any
						  other person who performs similar policy-making functions for such specified
						  person. In the case of a licensee or of an applicant for a license, "executive
						  officer" includes the person in charge of the money transmission
						  business.
1.
						  Amendment of section and NOTE filed 8-11-2015; operative 10-1-2015 (Register
						  2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.163 - Extend Credit

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) To
						"extend credit" to a person includes:
(1) To
						make or renew a loan to the person.
(2) To purchase a security or other asset
						from the person under a repurchase agreement.
(3) To acquire a note, draft, contract, or
						similar instrument with respect to which the person is liable, whether as
						maker, endorser, guarantor, or otherwise.
(4) To guarantee or become surety upon an
						obligation with respect to which the person is an obligor or
						obligee.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.164 - Foreign Corporation and Foreign Limited Liability Company

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) "Foreign
						corporation" means any corporation other than a corporation organized under the
						laws of the State of California.
(b) "Foreign limited liability company" means
						any unincorporated entity formed under the law of a jurisdiction other than
						this state and denominated by that law as a limited liability company, except
						it does not include a limited liability company that is organized outside the
						United States.
1.
						  Amendment of section heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 17701.02,
							 Corporations Code; Section
							 2031 and Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.165 - Majority-Owned Subsidiary

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Majority-owned subsidiary" means a subsidiary more
						  than 50 percent of whose outstanding securities representing the right (other
						  than as affected by events of default) to vote for the election of directors,
						  is owned by the subsidiary's parent and/or one or more of the parent's other
						  majority-owned subsidiaries.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.166 - Parent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Parent," when used with respect to a specified person
						  (other than an individual), means any person (other than an individual) which
						  controls such specified person, directly or indirectly through one or more
						  intermediaries.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.166.10 - Paying Agent

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Paying agent" means a person that disburses
						  transmission funds to the beneficiary.
1. New
						  section filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Section
							 2010,
							 Financial Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.167 - Money Transmitter License

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Money transmitter license" means any license or other
						  form of authorization or qualification by which a person is permitted to engage
						  in the business of money transmission.
1.
						  Amendment of section heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.168 - Pre-Clear

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Pre-clear," when used to designate a payment
						  instrument, means a payment instrument which is sold by an agent of the issuer
						  and which is paid by the issuer before the issuer receives a report of the sale
						  from such agent.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.169 - Records

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Records" includes books, accounts, and other
						  records.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.170 - Reporting Company

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Reporting company" means a person (other than an
						  individual) which meets all of the following requirements:
(a) A class of the equity securities of the
						person is registered pursuant to Section
						12 of the Securities Exchange Act
						of 1934 and regulations of the Securities and Exchange Commission issued
						thereunder.
(b) The person is
						required to file reports and other documents under Sections
						13 and
						14 of the Securities Exchange Act
						of 1934 and regulations of the Securities and Exchange Commission issued
						thereunder, has filed all documents so required to be filed for the last three
						years (or, if the person was subject to such requirements for less than the
						last three years, for such lesser period), and has filed all documents so
						required to be filed in a timely manner for the last one year (or, if the
						person was subject to such requirements for less than the last one year, for
						such lesser period).
(c) In case
						the person or a subsidiary of the person is subject to Section
						80.8306 of this Chapter, the
						person or such subsidiary has filed with the Commissioner all documents
						required to be filed under Section
						80.8306 for the last three years
						(or, if the person or the subsidiary was subject to Section
						80.8306 for less than the last
						three years, for such lesser period), and has filed with the Commissioner all
						documents so required to be filed in a timely manner for the last one year (or,
						if the person was subject to Section
						80.8306 for less than the last one
						year, for such lesser period).
1.
						  Change without regulatory effect amending section filed 8-19-97 pursuant to
						  section 100, title 1, California Code of
						  Regulations (Register 97, No. 34).
2. Amendment of NOTE filed
						  8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.171 - Reporting/Remitting Office. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						  Amendment of subsection (a) filed 4-7-97; operative 4-7-97 pursuant to
						  Government Code section
						  11343.4(d)
						  (Register 97, No. 15).
2. Repealer filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Section
							 33202,
							 Financial Code. Reference: Division 16, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.172 - Security

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Security" has the meaning set forth in Corporations
						  Code Section
						  25019.
1.
						  Amendment of NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No.
						  33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.
California Code of Regulations › Title 10 - Investment › Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions › Subchapter 80 - Money Transmission › Article 1 - General Provisions › Subarticle 2 - Definitions › Part 3 - Definitions-Regulations › Section 80.173 - Significantly Involved in Money Transmission Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Significantly involved in money transmission
						  business," when used with respect to an affiliate of a money transmitter, means
						  that such affiliate manages or performs a significant aspect of the money
						  transmission business of the licensee, such as:
(a) Distributing blank payment instruments or
						stored value to agents of the licensee;
(b) Receiving reports of money transmission
						or remittances of proceeds of money transmission from agents of the
						licensee;
(c) Holding or investing
						proceeds from money transmission; or
(d) Serving as a clearing bank for the
						licensee. However, "significantly involved in money transmission business" does
						not include any affiliate of a licensee of payment instruments or stored value
						solely on account of the fact that such affiliate is an agent of such
						licensee.
1.
						  Amendment of section heading, section and NOTE filed 8-11-2015; operative
						  10-1-2015 (Register 2015, No. 33).
Note: Authority cited: Sections
							 321 and
							 334,
							 Financial Code. Reference: Division 1.2, Financial
							 Code.