“Loss,” within the meaning of this chapter, means the loss of trust obligations held by a member within the State of California as a result of the fraudulent or dishonest abstraction, misappropriation, or embezzlement of trust obligations by an officer, director, trustee, stockholder, manager, or employee of a member.
(Amended by Stats. 2001, Ch. 662, Sec. 2. Effective January 1, 2002.)
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