Public-domain · open source
OpenJurist

Cal. Fin. Code § 32352.5

Powers, Exclusions and Prohibitions

Known as the State Assistance Fund for Enterprise Act

The act spans §§ 32000 to 32823 (65 sections).

Amended by Stats. 2004, Ch. 25, Sec. 8

(a) If the corporation becomes a small business development corporation pursuant to Section 32352, the official and public members of the board of directors shall, within 30 days thereafter, appoint three additional directors to the board, who shall be residents of the region to be served by the corporation when acting as a small business development corporation.

(b) For purposes of this section, the three regional directors appointed pursuant to subdivision (a) shall be appointed by the official and public members of the board as full voting members of the board.

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