The corporation shall adopt bylaws, which shall include provisions governing the election of officers; the establishment and functions of committees; eligibility criteria for loan applications and application procedures; procedures for the deposit and sale of government guaranteed securities; and the establishment of loan loss reserves.
Cal. Fin. Code § 32332
Management of the Corporation
Known as the State Assistance Fund for Enterprise Act
The act spans §§ 32000 to 32823 (65 sections).
Added by Stats. 1989, Ch. 1040, Sec. 10.2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.