Home/California/Statutes/Code FIN: Financial Code - FIN/Div. 15.5.: DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION/Ch. 3.: CHAPTER 3. Corporate Finances/Art. 3.: ARTICLE 3. Government Guaranteed Securities Trust Fund/§ 32423.
California Statutes

§ 32423. — 32423. (Amended by Stats. 2004, Ch. 25, Sec. 9.)

California § 32423.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 15.5.DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION
Ch. 3.CHAPTER 3. Corporate Finances
Art. 3.ARTICLE 3. Government Guaranteed Securities Trust Fund

This text of California § 32423. (32423. (Amended by Stats. 2004, Ch. 25, Sec. 9.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cal. Financial Code - FIN Code § 32423. (2026).

Text

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 the proceeds of the sale of government guaranteed securities which represents the purchase of the principal amount of the securities shall be credited to the enterprise loan fund of the corporation; and
(b)That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the future interest earnings of the securities shall be credited to the general operating account of the corporation.

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Legislative History

Amended by Stats. 2004, Ch. 25, Sec. 9. Effective March 17, 2004.
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California § 32423., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/32423..