{"code":"FIN","codeName":"Financial Code","section":"32352","citation":"Fin. Code, § 32352","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION [32000. - 32823.]","url":"https://blackletter.si/financial-code/division-15.5"},{"name":"CHAPTER 2. Corporate Matters [32300. - 32352.5.]","url":"https://blackletter.si/financial-code/division-15.5/chapter-2"},{"name":"ARTICLE 6. Powers, Exclusions and Prohibitions [32350. - 32352.5.]","url":"https://blackletter.si/financial-code/division-15.5/chapter-2/article-6"}],"history":"Amended by Stats. 1989, Ch. 1040, Sec. 12.","effective":null,"html":"<p>The corporation shall (a) be empowered to do and perform all acts contemplated for a business and industrial development corporation, and (b) upon approval of the Small Business Development Board, perform acts contemplated for a small business development corporation, pursuant to Part 5 (commencing with Section <a href=\"/fin/14000\">14000</a>) of the Corporations Code.</p><p>Notwithstanding any other provision of law, upon approval by the Small Business Development Board of the corporation’s application to become a small business development corporation pursuant to this section, the sum of seven hundred fifty thousand dollars ($750,000) shall be transferred from the State Enterprise Loan Fund for deposit in the Small Business Expansion Fund created pursuant to Section 14029 of the Corporations Code for immediate transfer to a loan fund established pursuant to Section 14045 of the Corporations Code. Upon suspension of the corporation as a small business development corporation, the funds shall be transferred to the Small Business Expansion Fund pursuant to Section 14025 of the Corporations Code.</p>","text":"The corporation shall (a) be empowered to do and perform all acts contemplated for a business and industrial development corporation, and (b) upon approval of the Small Business Development Board, perform acts contemplated for a small business development corporation, pursuant to Part 5 (commencing with Section 14000) of the Corporations Code. Notwithstanding any other provision of law, upon approval by the Small Business Development Board of the corporation’s application to become a small business development corporation pursuant to this section, the sum of seven hundred fifty thousand dollars ($750,000) shall be transferred from the State Enterprise Loan Fund for deposit in the Small Business Expansion Fund created pursuant to Section 14029 of the Corporations Code for immediate transfer to a loan fund established pursuant to Section 14045 of the Corporations Code. Upon suspension of the corporation as a small business development corporation, the funds shall be transferred to the Small Business Expansion Fund pursuant to Section 14025 of the Corporations Code.","otherVersions":[],"url":"https://blackletter.si/financial-code/powers-exclusions-and-prohibitions-32352","source":"California Legislative Information bulk export (pubinfo)"}