California Welfare and Institutions Code

§ 14140

WIC § 14140 Effective Jan 1, 2017Div. 9 · Part 3 · Ch. 7 · Art. 4.4

Statute text

The following definitions shall apply to the provisions of this article:

(a)“Net worth” means:

(1)Personal property, which consists of cash, savings accounts, securities, and similar items; notes, mortgages, and deeds of trust; the cash surrender value of life insurance on the life of the applicant or beneficiary, on the life of the spouse, or any member of the family, except as provided in Section 11158; motor vehicles, except one which meets the transportation needs of the person or family; any other property or equity other than real estate, except that property specified in subdivisions (1), (2), and (3) of Section 11155.

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Legislative history

Amended by Stats. 2016, Ch. 50, Sec. 123. (SB 1005) Effective January 1, 2017.