CHAPTER 3. Corporate Finances [32400. - 32423.]

Chapter 3 added by Stats. 1980, Ch. 819, Sec. 1.

§§ 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…