Section 80.156 - 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 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.Cal. Code Regs. Tit. 10, § 80.156
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.
1. Amendment of Note filed 8-11-2015; operative 10/1/2015 (Register 2015, No. 33).