In order to expedite the startup of the corporation, the four members representing the stockholders shall initially be appointed by the Secretary of the Business, Transportation and Housing Agency. These members will serve until the first stockholders’ meeting, at which point they will be replaced by elected members.
Cal. Health & Safety Code § 53105
Purpose and Organization
Known as the Solar and Energy Conservation Mortgage Corporation Act
The act spans §§ 53000–53113 (23 sections).
Added by Stats. 1981, Ch. 1033.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.