CHAPTER 7. Borrowing From the State [32810. - 32823.]

Chapter 7 added by Stats. 1980, Ch. 819, Sec. 1.

§§ 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.