Public-domain · open source
OpenJurist

Cal. Fin. Code § 31405

Transaction of Business

Known as the Business and Industrial Development Corporations Law

The act spans §§ 31000–31952 (132 sections).

Amended by Stats. 1987, Ch. 867, Sec. 24.

Except as otherwise provided in subdivisions (b), (c), and (d) of Section 31406:

(a) No licensee shall provide financing assistance or management assistance to any business firm the primary business of which is to provide financing assistance or management assistance.

(b) No licensee shall provide financing assistance to any business firm for the purpose of providing financing assistance to other persons or discharging, in whole or in part, any obligation incurred for such purpose.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.