"___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.
Cal. Code Regs. Tit. 10, § 80.154
Note: Authority cited: Sections 321 and 334, Financial Code. Reference: Division 1.2, Financial Code.