"Trustee" means a third-party to whom funds are legally committed in trust, under an express trust or escrow agreement between the borrower, trustee and the Department.
Cal. Code Regs. Tit. 22, § 91313
Note: Authority cited: Sections 103, 446.2 and 446.3, Health and Safety Code; and Section 11152, Government Code. Reference: Section 13111.3, Health and Safety Code.