Section 50.105 - Associate"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 the applicant for a license or a subsidiary of the licensee or of the applicant for a license) of which the specified person is an officer or partner or is, directly or indirectly, the beneficial owner of 10% 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 a 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 officer of the licensee, of the applicant for a license, or of any parent or subsidiary of the licensee or of the applicant for a license.Cal. Code Regs. Tit. 10, § 50.105