Borrowing from the Fund
Known as the State Assistance Fund for Enterprise Act
The act spans §§ 32000 to 32823 (65 sections).
Added by Stats. 1980, Ch. 819, Sec. 1.
The corporation is authorized to borrow money from the fund, subject to the following terms and conditions:
(a) The interest rate on loans from the fund to the corporation shall be six percent per annum;
(b) The maximum term of the loans to the corporation shall be for 20 years;
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.