Code Section Group

Health and Safety Code - HSC

DIVISION 31. HOUSING AND HOME FINANCE [50000 - 54034]

  ( Division 31 repealed and added by Stats. 1977, Ch. 610. )

PART 7. SOLAR AND ENERGY CONSERVATION MORTGAGE CORPORATION [53000 - 53113]

  ( Part 7 added by Stats. 1981, Ch. 1033. )

CHAPTER 2. Definitions [53050 - 53062]
  ( Chapter 2 added by Stats. 1981, Ch. 1033. )

53050.
  

Unless the context otherwise requires and so stipulates, the definitions provided in this chapter shall govern construction of this part.

(Added by Stats. 1981, Ch. 1033.)

53052.
  

“Corporation” means the Solar and Energy Conservation Mortgage Corporation, also known as “Sunny Mac,” created by this part.

(Added by Stats. 1981, Ch. 1033.)

53054.
  

“Energy conservation measure” means any one or more of the following:

(a)  A device, system, or design that utilizes solar energy or wind power for water heating, space heating or cooling, or the generation of electricity.

(b)  Ceiling, attic, wall, or floor insulation.

(c)  Storm windows and doors, multi-glazed windows and doors, and heat-absorbing or heat-reflective glazed windows and door materials, which substantially reduce the energy needed for space heating and cooling.

(d)  Such other measures or devices as may reasonably be deemed energy conservation enhancements or structural improvements.

(Added by Stats. 1981, Ch. 1033.)

53056.
  

“Financial institution” means any commercial bank, trust company, savings and loan association, credit union, insurance company, industrial loan company, mortgage banker, or California business and industrial development company, in this state.

(Added by Stats. 1981, Ch. 1033.)

53058.
  

“Financing” means to lend money for the purpose of purchasing, leasing, installing, or constructing energy conservation measures.

(Added by Stats. 1981, Ch. 1033.)

53060.
  

“Holder-in-due course,” means the purchaser of a loan or loans from a financial institution that participates in, arranges, or finances a loan pursuant to the provisions of this part, and who takes the loan instrument:

(a)  For value;

(b)  In good faith; and

(c)  Without notice that it is overdue or has been dishonored or of any defense against or claim to it on the part of any person.

(Added by Stats. 1981, Ch. 1033.)

53062.
  

“Structural improvements” means alterations or additions to a designated building intended to enhance energy conservation and efficiency of building space utilization.

(Added by Stats. 1981, Ch. 1033.)

HSCHealth and Safety Code - HSC