California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 11.3 - Debt Collection Licensing Act
Article 1 - Definitions
Section 1850 - Definitions

(a) "Affiliate" means any person controlling, controlled by, or under common control with, the specified person, directly or indirectly, through one or more intermediaries. "Affiliate" includes an affiliated company.

(b) "Applicant" means any person. including any of its affiliates, who applies for a license under the Debt Collection Licensing Act. An affiliate who is not applying for a license is not an applicant for purposes of licensure under the Debt Collection Licensing Act.

(c) "Branch office" means a location other than the applicant's or licensee's principal place of business identified in a license application or an amended application if activity related to debt collection occurs at the location and the location is held out to the public as a business location or money is received at the location or held at the location. For purposes of filing a Form MU3, holding a location out to the public includes receiving postal correspondence from the public at the location, meeting with the public at the location, including the location on business cards, letterhead, or any other correspondence, including signage at the location, or any other representation to the public that the location is a business location of the applicant or licensee.

(d) "Commissioner" means the Commissioner of Financial Protection and innovation.

(e) "Control" means possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. A person who, directly or indirectly, owns, controls, holds with the power to vote, or holds proxies representing, ten percent (10%) or more of the then outstanding voting securities issued by another person is presumed to control such other person. For purposes of this subchapter, the Commissioner may determine whether a person in fact controls another person.

(f) "Debt buyer" means a person or entity that is regularly engaged in the business of purchasing charged-off consumer debt for collection purposes, whether it collects the debt itself, hires a third party for collection, or hires an attorney-at-law for collection litigation. "Debt buyer" does not mean a person or entity that acquires a charged-off consumer debt incidental to the purchase of a portfolio predominantly consisting of consumer debt that has not been charged off.

(g) "Debt Collection Licensing Act" means California Financial Code section 100000 et seq.

(h) "Debt collector" has the same meaning as set forth in subdivision (j) of Section 100002 of the Financial Code.

(i) "Form MU1" means the uniform licensing form. entitled "NMLS Company Form," developed by the Nationwide Multistate Licensing System & Registry and used to provide information on a company or sole proprietor license applicant. Version 11.0, dated 09/12/15, is hereby incorporated by reference in its entirety.

(j) "Form MU2" means the uniform licensing form, entitled "NMLS Individual Form," developed by the Nationwide Multistate Licensing System & Registry and used to provide information on an individual who directly or indirectly owns or controls the activities of the applicant, branch office, including principal officers, directors, and other individuals specified on Form MU1 or Form MU3. Version 9, dated 9/12/2016, is hereby incorporated by reference in its entirety.

(k) "Form MU3" means the uniform licensing form, entitled "NMLS Branch Form," developed by the Nationwide Multistate Licensing System & Registry and used to provide information on branch offices. Version 10, dated 03/31/2014, is hereby incorporated by reference in its entirety.

(l) "Individual" means a natural person.

(m) "Licensee" means any person who is licensed under the Debt Collection Licensing Act. "Licensee" includes the person named on the license and any person listed on the license.

(n) "NMLS" means the Nationwide Multistate Licensing System & Registry.

(o) "Principal officers" means the president, chief executive officer, treasurer and chief financial officer and any other officer with direct responsibility for the conduct of the applicant's debt collection activities in this state.