ARTICLE 3. Borrowing from the Fund

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

§§ 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.