California § 63089.60. 63089.60. (Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, Sec. 4.)

California Statutes

§ 63089.60. — 63089.60. (Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, 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

(a)The program manager shall recommend whether the expansion fund and trust fund accounts are to be leveraged, and if so, by how much. Upon the request of the corporation, the program manager’s decision may be repealed or modified by the executive director or the bank board.

(b)The amount of guarantee liability outstanding at any one time shall not exceed 10 times the amount of funds on deposit in the expansion fund plus any receivables due from funds loaned from the expansion fund to another fund in state government as directed by the Department of Finance pursuant to a statute enacted by the Legislature, including each of the trust fund accounts within the trust fund.

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
The program manager shall recommend whether the expansion fund and trust fund accounts are to be leveraged, and if so, by how much. Upon the request of the corporation, the program manager’s decision may be repealed or modified by the executive director or the bank board.
(b)
The amount of guarantee liability outstanding at any one time shall not exceed 10 times the amount of funds on deposit in the expansion fund plus any receivables due from funds loaned from the expansion fund to another fund in state government as directed by the Department of Finance pursuant to a statute enacted by the Legislature, including each of the trust fund accounts within the trust
fund.

California § 63089.60. (63089.60. (Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.