§ 94193. — 94193. (Amended by Stats. 2022, Ch. 572, Sec. 28.)

California § 94193.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 10.
• Title 3.: DIVISION 10. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Part 59.: PART 59. PRIVATE POSTSECONDARY AND HIGHER EDUCATION INSTITUTIONS
• Ch. 2.: CHAPTER 2. California Educational Facilities Authority Act
• Art. 7.: ARTICLE 7. Construction of Facilities

Text

Moneys of the authority received from any participating private college, participating nonprofit entity, or university applicant in payment of any sum due to the authority pursuant to the terms of any loan or other agreement or any bond, note, or other evidence of indebtedness, shall be deposited in an account in which only moneys received from participating private
colleges, participating nonprofit entities, or university applicants shall be deposited, and shall be kept separate and apart from and not commingled with any other moneys of the authority. Moneys deposited in that account shall be paid out on checks signed by the chairperson of the authority or by a person or persons authorized by the authority.

Legislative History

Amended by Stats. 2022, Ch. 572, Sec. 28. (AB 190) Effective September 27, 2022.