BlackletterCalifornia law

Financial Code § 32404

ARTICLE 1. Corporate Accounts

Current as of September 28, 2026Fin. Code, § 32404Official source ↗

Added by Stats. 1980, Ch. 819, Sec. 1.

Beginning with the fiscal year which begins July 1, 1982, and each fiscal year thereafter, the board shall not adopt any budget for the corporation in which the projected total operating expenditures exceed the expected balance of the general operating account.