§ 50744. — 50744. (Added by Stats. 1987, Ch. 1034, Sec. 3.)

California § 50744.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 31.: DIVISION 31. HOUSING AND HOME FINANCE
• Part 2.: PART 2. DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
• Ch. 9.: CHAPTER 9. Rental Housing Construction Program
• Art. 1.: ARTICLE 1. Definitions and General Provisions

Text

Where a local finance entity or local public entity is authorized to receive payments from the annuity fund established pursuant to Section 50748, under a written agreement with the department, the local finance entity or local public entity may with the approval of the department designate in writing either the project sponsor or the sponsor’s approved management agent for the rental housing development as a substitute payee for these payments. Upon the approval of the department and the local finance entity or local public entity, the department shall make the authorized payments directly to the designated payee until the entity and the department agree
to revoke or rescind the designation.

Legislative History

Added by Stats. 1987, Ch. 1034, Sec. 3.