BlackletterCalifornia law

CHAPTER 1. California Small Business Financial Development Corporations [14000. - 14024.]

Chapter 1 repealed and added by Stats. 2013, Ch. 537, Sec. 2.

§§ 14000–14024 · 25 sections

  1. ARTICLE 1. Introduction §§ 14000–14002 · 3 sections
    • § 14000 This chapter shall be known and may be cited as the California Small Business Financial Development Corporation Law.
    • § 14001 (a) It is the intent of the Legislature in enacting this chapter to promote the economic development of small businesses through the California Small Business…
    • § 14002 If any provision of this chapter or the application thereof to any person or circumstances is held invalid, this invalidity shall not affect other provisions…
  2. ARTICLE 2. Definitions § 14003 · 1 section
    • § 14003 Unless the context otherwise requires, the definitions in this section shall govern the construction of this chapter. (a) “Bank” means the California…
  3. ARTICLE 3. Program Manager §§ 14004–14004.2 · 3 sections
    • § 14004 (a) The program manager shall do all of the following: (1) Administer this chapter. (2) Make recommendations to the executive director and the bank board on…
    • § 14004.1 (a) The California Small Business Board is hereby continued and created as an advisory board to the California Infrastructure and Economic Development Bank…
    • § 14004.2 The bank board shall approve new corporations recommended by the program manager, based on an examination of each of the following: (a) Review of the articles…
  4. ARTICLE 4. New Corporations §§ 14005–14012 · 6 sections
    • § 14005 Upon approval by the bank board to become a corporation, an entity shall adopt or amend its articles of incorporation to comply with the following: (a) The…
    • § 14006 If the bank board concurs with the findings of the program manager pursuant to Section 14004, the bank board shall direct the program manager to approve the…
    • § 14007 (a) The corporation’s existence as a small business financial development corporation begins upon the filing of the articles with the Secretary of State and…
    • § 14009 (a) Each corporation shall have provisions establishing a grievance procedure for employees, clients, or potential clients, to appeal a decision or obtain…
    • § 14011 The Nonprofit Public Benefit Corporation Law (Part 2 (commencing with Section 5110) of Division 2 of this title) applies to corporations formed under this…
    • § 14012 For six months following the establishment of a corporation, commencing upon filing of the articles of incorporation with the Secretary of State, a corporation…
  5. ARTICLE 5. Corporation Board §§ 14013–14017 · 5 sections
    • § 14013 The corporate powers of a corporation shall be exercised by its board of directors.
    • § 14014 The bank shall enter into a contract with each corporation that shall require that: (a) A person may not serve on a corporation’s board of directors who is not…
    • § 14015 If any director ceases to meet the qualifications established in Section 14014, he or she shall immediately vacate his or her position as a director and the…
    • § 14016 If any vacancy occurs in the elective membership of the board of directors through death, resignation, or otherwise, the remaining directors shall elect a…
    • § 14017 The bank board shall direct the program manager to establish new small business financial development corporations pursuant to the directives and requirements.…
  6. ARTICLE 6. Corporations, Miscellaneous §§ 14018–14021 · 4 sections
    • § 14018 Every corporation shall provide for, and maintain a central staff to perform, all administrative requirements of the corporation, including all those functions…
    • § 14019 Reasonable costs incurred by a corporation in the creation and maintenance of a central staff shall be paid to the corporation from state funds, including a…
    • § 14020 A corporation shall report to the program manager, or his or her designated representative, all statistical and other reports required by this chapter and…
    • § 14021 A corporation shall make a report to the program manager, as required by Chapter 6 (commencing with Section 63088) of Division 1 of Title 6.7 of the Government…
  7. ARTICLE 7. Conflict of Interest §§ 14022–14024 · 3 sections
    • § 14022 It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer, director, contractor, or…
    • § 14023 It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a…
    • § 14024 Violation of any provision of this article shall constitute a felony.