California Government Code ARTICLE 5 - Expansion Fund and Trust Fund
- Section 63089.5.
(a) There is hereby continued in existence in the State Treasury the California Small Business Expansion Fund. All or a portion of the funds in the...
- Section 63089.51.
(a) All money deposited in the expansion fund is hereby continuously appropriated, without regard to fiscal years, for the purposes of this chapter.(b) Except as specified in...
- Section 63089.52.
(a) The program manager, at his or her discretion, with the approval of the executive director, may request the trustee to invest those moneys in the...
- Section 63089.53.
Except as specified in subdivision (b) of Section 63089.54, the state or the bank shall not be liable or obligated in any way beyond the...
- Section 63089.54.
(a) There is hereby created in the State Treasury the Small Business Disaster Recovery Loan Loss Reserve Account, as part of the expansion fund. This account...
- Section 63089.55.
The Director of Finance, with the approval of the Governor, may transfer moneys in the Special Fund for Economic Uncertainties to the California Small Business...
- Section 63089.56.
(a) The funds in the expansion fund shall be paid out to trust fund accounts by the Treasurer on funds drawn by the Controller and requisitioned...
- Section 63089.57.
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...
- Section 63089.58.
Each trust fund account shall consist of a loan guarantee account, and, upon recommendation by the program manager, a bond guarantee account or other financial...
- Section 63089.59.
(a) The financial institution or financial company that is to act as trustee of the trust fund shall be designated by the bank. The corporation shall...
- Section 63089.60.
(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...
- Section 63089.61.
(a) The corporate guarantee shall be backed by funds on deposit in the corporation’s trust fund account, or by receivables due from funds loaned from the...
- Section 63089.62.
(a) It is the intent of the Legislature that the corporations make maximum use of their statutory authority to guarantee loans and surety bonds, and administer...
Last modified: October 22, 2018