California § 63089.57. 63089.57. (Added by Stats. 2013, Ch. 537, Sec. 4.)

California Statutes

§ 63089.57. — 63089.57. (Added by Stats. 2013, Ch. 537, Sec. 4.)

California·Code GOV Government Code - GOV·Div. 1.·Title 6.7. DIVISION 1. THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT·Ch. 6. CHAPTER 6. Small Business Financial Assistance Act of 2013·Art. 5. ARTICLE 5. Expansion Fund and Trust Fund

Pursuant to this chapter and any directives and requirements adopted pursuant to this chapter, the state has residual interest in the funds deposited by the state to a trust fund account and to the return on these funds from investments. On dissolution, suspension, or termination of the corporation, these funds shall be withdrawn by the program manager from the trust fund account and returned to the expansion fund or temporarily transferred to another trust fund account. This provision shall be contained in the trust instructions to the trustee.

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Pursuant to this chapter and any directives and requirements adopted pursuant to this chapter, the state has residual interest in the funds deposited by the state to a trust fund account and to the return on these funds from investments. On dissolution, suspension, or termination of the corporation, these funds shall be withdrawn by the program manager from the trust fund account and returned to the expansion fund or temporarily transferred to another trust fund account. This provision shall be contained in the trust instructions to the trustee.

California § 63089.57. (63089.57. (Added by Stats. 2013, Ch. 537, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.