California Financial Code ARTICLE 3 - Board of Directors

• Section 32320.
  Except as provided in Sections 32325 and 32352.5, the board of directors of the corporation shall consist of six members, two official and four public...
• Section 32321.
  (a) The official members of the board shall be:(1) A member of the Governor’s cabinet, or his or her designee.(2) One member of the Energy Commission, selected and...
• Section 32322.
  (a) The terms of official members of the board shall coincide with their official terms of office, except in the case of the member selected and...
• Section 32323.
  (a) The directors selected and appointed by the Governor, Rules Committee, and Speaker shall meet the requirements of subdivision (d) of Section 31152.(b) The directors shall hold...
• Section 32324.
  (a) The official directors shall serve without compensation, except that they shall be reimbursed for their actual and necessary expenses incurred in the performance of their...
• Section 32325.
  If the corporation becomes a federal Community Development Financial Institution (CDFI), in addition to the official and public directors provided for in Section 32321, the...
• Section 32326.
  The board of directors of the corporation shall establish a loan committee, which shall review, rank, and approve or disapprove applications for loans under this...

Last modified: October 22, 2018