The trustee may acquire real property or any interest in real property with the objective of facilitating management of school lands for the purpose of generating revenue. The trustee may delegate authority to the trustee’s executive officer to make a nonrefundable downpayment for a potential acquisition of real property or any interest in real property.
Cal. Pub. Res. Code § 8712
School Land Bank Act
Known as the School Land Bank Act
The act spans §§ 8700–8723 (21 sections).
Amended by Stats. 2021, Ch. 715, Sec. 7
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.