BlackletterCalifornia law

DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION [32000. - 32823.]

Heading of Division 15.5 amended by Stats. 1989, Ch. 1040, Sec. 1.

§§ 32000–32823 · 65 sections

  1. CHAPTER 1. General Provisions §§ 32000–32219 · 22 sections
    1. ARTICLE 1. Short Title, Construction and Severability §§ 32000–32002 · 3 sections
      • § 32000 This division shall be known and may be cited as the “State Assistance Fund for Enterprise Act of 1989.”
      • § 32001 In this division, unless the context otherwise requires: (a) A reference to a statute or to a regulation includes such statute or regulation as amended,…
      • § 32002 If any provision of this division or the application thereof to any person or circumstances is held invalid, illegal, or unenforceable, such invalidity,…
    2. ARTICLE 2. Legislative Purposes § 32101 · 1 section
      • § 32101 The purposes of this division are the following: (a) To enhance the availability of financial assistance for small business in California. (b) To increase the…
    3. ARTICLE 3. Definitions §§ 32200–32219 · 18 sections
      • § 32200 Subject to additional definitions contained in Division 15 (commencing with Section 31000) and this division which are applicable to specific provisions of…
      • § 32201 “Alternative energy system” means any device or combination of devices which conserves or produces heat, process heat, space heating, water heating, steam,…
      • § 32202 “Conventional energy fuel” means any fuel derived from petroleum deposits, including but not limited to oil, heating oil, gasoline, fuel oil, or natural gas,…
      • § 32203 “Small business” means a business defined as an eligible small business as set forth in Section 121.3-10 of Part 121, Chapter 1, Title 13 of the Code of…
      • § 32204 “State Controller” means the State Controller or any person to whom the State Controller delegates the authority to act for him or her in the particular matter.
      • § 32205 “Rules Committee” means the rules committee of the State Senate or any person to whom the rules committee of the State Senate delegates to act for it in the…
      • § 32206 “Speaker” means the Speaker of the State Assembly or any person to whom the Speaker of the Assembly delegates the authority to act for him in the particular…
      • § 32207 “Corporation” means the State Assistance Fund for Enterprise Business and Industrial Development Corporation.
      • § 32208 “Energy Commission” means the State Energy Resources Conservation and Development Commission.
      • § 32209 “ Alternative energy business firm” means any small business engaged primarily in the business of the design, manufacture, production, assembly, distribution,…
      • § 32210 “Board” means the board of directors of the corporation.
      • § 32211 “President” means the president of the corporation.
      • § 32212 “Finance officer” means the director of the finance division of the corporation.
      • § 32215 “Governor” means the Governor of the State of California or any person to whom the Governor of the State of California delegates the authority to act for him…
      • § 32216 “Savings-investment ratio” means an analysis of the proposed system in which energy cost savings are added to other net benefits and costs from operation,…
      • § 32217 “Life cycle cost analysis” means an analysis of a proposed system in which all costs and benefits are evaluated over the expected life of the system.
      • § 32218 “Minimum economic feasibility” means that the net savings or benefits of an investment exceed the net costs.
      • § 32219 “Special projects” means any financing assistance or other program undertaken by the corporation pursuant to Article 3 (commencing with Section 32720) of…
  2. CHAPTER 2. Corporate Matters §§ 32300–32352.5 · 17 sections
    1. ARTICLE 1. Creation of the Corporation §§ 32300–32301 · 2 sections
      • § 32300 The Legislature hereby authorizes the creation of a nonprofit corporation pursuant to the provisions of the Nonprofit Corporation Law (Part 1 (commencing with…
      • § 32301 Except as otherwise provided in this division: (a) The Nonprofit Corporation Law shall apply to the corporation. However, whenever any provision of the…
    2. ARTICLE 2. Corporate Name § 32310 · 1 section
      • § 32310 The name of this corporation shall be: State Assistance Fund for Enterprise, Business and Industrial Development Corporation.
    3. ARTICLE 3. Board of Directors §§ 32320–32326 · 7 sections
      • § 32320 Except as provided in Sections 32325 and 32352.5, the board of directors of the corporation shall consist of six members, two official and four public…
      • § 32321 (a) The official members of the board shall be: (1) A member of the Governor’s cabinet, or his or her designee. (2) One member of the Energy Commission,…
      • § 32322 (a) The terms of official members of the board shall coincide with their official terms of office, except in the case of the member selected and appointed by…
      • § 32323 (a) The directors selected and appointed by the Governor, Rules Committee, and Speaker shall meet the requirements of subdivision (d) of Section 31152. (b) The…
      • § 32324 (a) The official directors shall serve without compensation, except that they shall be reimbursed for their actual and necessary expenses incurred in the…
      • § 32325 If the corporation becomes a federal Community Development Financial Institution (CDFI), in addition to the official and public directors provided for in…
      • § 32326 The board of directors of the corporation shall establish a loan committee, which shall review, rank, and approve or disapprove applications for loans under…
    4. ARTICLE 4. Management of the Corporation §§ 32330–32332 · 3 sections
      • § 32330 The management of the corporation shall be conducted by the board of directors, subject to the following limitations: (a) All action taken by the board of…
      • § 32331 The operations of the corporation shall be directed by the president of the corporation, who shall be selected and appointed by the board.
      • § 32332 The corporation shall adopt bylaws, which shall include provisions governing the election of officers; the establishment and functions of committees;…
    5. ARTICLE 6. Powers, Exclusions and Prohibitions §§ 32350–32352.5 · 4 sections
      • § 32350 (a) The corporation may appoint such agents and employees as it requires, and determine their qualifications, duties, terms of employment, and compensation.…
      • § 32351 The corporation shall not provide financing assistance to any business firm in this state unless such business firm meets the financial and eligibility…
      • § 32352 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…
      • § 32352.5 (a) If the corporation becomes a small business development corporation pursuant to Section 32352, the official and public members of the board of directors…
  3. CHAPTER 3. Corporate Finances §§ 32400–32423 · 9 sections
    1. ARTICLE 1. Corporate Accounts §§ 32400–32404 · 5 sections
      • § 32400 The financial accounts and records of the corporation shall be kept by the finance officer according to policies and rules which the board shall adopt.
      • § 32401 The corporation shall adopt as its fiscal year the period from July 1st to and including the following June 30th.
      • § 32402 In addition to other accounts the board may establish, the financial accounts of the corporation shall include: (a) A general operating account. (b) A general…
      • § 32403 Except as otherwise provided for in this division, all funds received by the corporation shall be deposited in the general operating account of the corporation.
      • § 32404 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…
    2. ARTICLE 3. Government Guaranteed Securities Trust Fund §§ 32420–32423 · 4 sections
      • § 32420 In this article “trust fund” means the government guaranteed securities trust fund of the corporation.
      • § 32421 The finance officer shall place into the trust fund all securities held by the corporation which carry a guarantee of repayment issued by the Small Business…
      • § 32422 According to policies and regulations which the board shall adopt, the finance officer shall use his or her best efforts to sell the guaranteed portion of the…
      • § 32423 The proceeds of the sale of government guaranteed securities shall be allocated to the accounts of the corporation in the following manner: (a) That portion of…
  4. CHAPTER 5. Loan Operations §§ 32600–32601 · 2 sections
    • § 32600 (a) The finance officer shall not execute any loan that is not: (1) Approved for guarantee by the Small Business Administration, under that agency’s prevailing…
    • § 32601 The corporation shall not provide financing assistance on any application, except for any application submitted for review as a special project, which has not…
  5. CHAPTER 6. Miscellaneous §§ 32720–32724 · 5 sections
    1. ARTICLE 3. Special Projects §§ 32720–32724 · 5 sections
      • § 32720 The corporation is authorized to accept any public or private financial grant in furtherance of the purposes of this division, including, but not limited to,…
      • § 32721 The board may consider and adopt rules for the acceptance and disbursement of grants, provided, however, that the cost of administering any grant, less any…
      • § 32722 The corporation may participate with any federal or state governmental agency, department, board, bureau, or office in any program which is intended to assist…
      • § 32723 The corporation may develop and implement a program to assist private financial institutions, to evaluate investment opportunities in alternative energy…
      • § 32724 Notwithstanding any other provision of this division, loans or other financing programs undertaken by the corporation in furtherance of minority enterprises…
  6. CHAPTER 7. Borrowing From the State §§ 32810–32823 · 10 sections
    1. ARTICLE 2. State Enterprise Loan Fund §§ 32810–32814 · 5 sections
      • § 32810 The Controller shall establish, maintain, and administer a separate account within the General Fund of the State of California to effect the provisions of this…
      • § 32811 The name of this account shall be the “State Enterprise Loan Fund,” which fund shall be continuously appropriated for the purposes of this division.
      • § 32812 The Controller shall transfer into the fund from the General Fund and from the Energy Resources Program Account in the General Fund all moneys required to meet…
      • § 32813 The Controller shall disburse moneys from the fund to the corporation subject to the provisions of this chapter.
      • § 32814 The Controller shall deposit in the fund all moneys received from the corporation in repayment of the principal and interest of loans made to the corporation.
    2. ARTICLE 3. Borrowing from the Fund §§ 32820–32823 · 5 sections
      • § 32820 The corporation is authorized to borrow money from the fund, subject to the following terms and conditions: (a) The interest rate on loans from the fund to the…
      • § 32820.5 Upon approval of the corporation to exercise the powers of a small business development corporation pursuant to Section 32352, the corporation shall cease to…
      • § 32821 The corporation shall make application in writing to the Controller for loans from the fund.
      • § 32822 Within five working days after receipt of an application from the corporation for a loan from the fund, the Controller shall disburse the proceeds of the loan…
      • § 32823 If the Controller finds either subdivision (a) or (b) of Section 32822 to be the case, the Controller shall deny the loan application of the corporation.