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Financial Code - FIN - FIN § 32421
Financial Code - FIN - FIN § 32421
The finance officer shall place into the trust fund all securities held by the corporation which carry a guarantee of repayment issued by the Small Business Administration or guarantee of repayment issued by any other governmental authority.
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Financial Code - FIN - FIN § 32422
Financial Code - FIN - FIN § 32422
According to policies and regulations which the board shall adopt, the finance officer shall use his or her best efforts to sell the guaranteed portion of the securities held in the trust fund to private investors or the state.
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Financial Code - FIN - FIN § 32423
Financial Code - FIN - FIN § 32423
The proceeds of the sale of government guaranteed securities shall be allocated to the accounts of the corporation in the following manner: (a) That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the principal amount of th
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Financial Code - FIN - FIN § 325
Financial Code - FIN - FIN § 325
Before entering upon the duties of his or her office, the commissioner shall take and subscribe to the constitutional oath of office and file the same with the Secretary of State.
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Financial Code - FIN - FIN § 326
Financial Code - FIN - FIN § 326
(a) The Commissioner of Financial Protection and Innovation is responsible for the performance of all duties, the exercise of all powers and jurisdiction, and the assumption and discharge of all responsibilities vested by law in the department and the divisions thereunder. The co
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Financial Code - FIN - FIN § 32600
Financial Code - FIN - FIN § 32600
(a) The finance officer shall not execute any loan that is not: (1) Approved for guarantee by the Small Business Administration, under that agency’s prevailing standards for loans of similar type, purpose, amount, and duration that are in effect at the time the guarantee is appro
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Financial Code - FIN - FIN § 32601
Financial Code - FIN - FIN § 32601
The corporation shall not provide financing assistance on any application, except for any application submitted for review as a special project, which has not been reviewed in the manner specified by the board.
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Financial Code - FIN - FIN § 327
Financial Code - FIN - FIN § 327
(a) The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage Product Risks issued in September 2006 and the Statement on Subprime Mortgage Lending issued in June 2007 by the Office of the Comptroller of the Currency, the Board of Governors of the Federal R
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Financial Code - FIN - FIN § 32720
Financial Code - FIN - FIN § 32720
The corporation is authorized to accept any public or private financial grant in furtherance of the purposes of this division, including, but not limited to, grants for alternative energy research or demonstration projects, manpower training, or economic development.
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Financial Code - FIN - FIN § 32721
Financial Code - FIN - FIN § 32721
The board may consider and adopt rules for the acceptance and disbursement of grants, provided, however, that the cost of administering any grant, less any payment for grant administration made to the corporation by the granting authority, shall in no case exceed 5 percent of the
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Financial Code - FIN - FIN § 32722
Financial Code - FIN - FIN § 32722
The corporation may participate with any federal or state governmental agency, department, board, bureau, or office in any program which is intended to assist the development of the alternative energy industry or to encourage economic development.
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Financial Code - FIN - FIN § 32723
Financial Code - FIN - FIN § 32723
The corporation may develop and implement a program to assist private financial institutions, to evaluate investment opportunities in alternative energy systems, and to help potential small business borrowers make contact with appropriate private sources of funds for alternative
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Financial Code - FIN - FIN § 32724
Financial Code - FIN - FIN § 32724
Notwithstanding any other provision of this division, loans or other financing programs undertaken by the corporation in furtherance of minority enterprises and export financing shall be funded from the enterprise loan fund, or other accounts which the corporation may establish.
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Financial Code - FIN - FIN § 328
Financial Code - FIN - FIN § 328
(a) The commissioner may make the agreements that he or she deems necessary or appropriate in exercising his or her powers. (b) (1) The agreements authorized under subdivision (a) may include, but are not limited to, agreements with agencies of this state, of other states of the
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Financial Code - FIN - FIN § 32810
Financial Code - FIN - FIN § 32810
The Controller shall establish, maintain, and administer a separate account within the General Fund of the State of California to effect the provisions of this chapter.
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Financial Code - FIN - FIN § 32811
Financial Code - FIN - FIN § 32811
The name of this account shall be the “State Enterprise Loan Fund,” which fund shall be continuously appropriated for the purposes of this division.
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Financial Code - FIN - FIN § 32812
Financial Code - FIN - FIN § 32812
The Controller shall transfer into the fund from the General Fund and from the Energy Resources Program Account in the General Fund all moneys required to meet the loan requests of the corporation, subject to the following terms and conditions: (a) The amount transferred to the f
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Financial Code - FIN - FIN § 32813
Financial Code - FIN - FIN § 32813
The Controller shall disburse moneys from the fund to the corporation subject to the provisions of this chapter.
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Financial Code - FIN - FIN § 32814
Financial Code - FIN - FIN § 32814
The Controller shall deposit in the fund all moneys received from the corporation in repayment of the principal and interest of loans made to the corporation.
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Financial Code - FIN - FIN § 32820
Financial Code - FIN - FIN § 32820
The corporation is authorized to borrow money from the fund, subject to the following terms and conditions: (a) The interest rate on loans from the fund to the corporation shall be six percent per annum; (b) The maximum term of the loans to the corporation shall be for 20 years;
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Financial Code - FIN - FIN § 32820.5
Financial Code - FIN - FIN § 32820.5
Upon approval of the corporation to exercise the powers of a small business development corporation pursuant to Section 32352, the corporation shall cease to be liable for payment of interest on loans made or to be made from the fund pursuant to this article.
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Financial Code - FIN - FIN § 32821
Financial Code - FIN - FIN § 32821
The corporation shall make application in writing to the Controller for loans from the fund.
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Financial Code - FIN - FIN § 32822
Financial Code - FIN - FIN § 32822
Within five working days after receipt of an application from the corporation for a loan from the fund, the Controller shall disburse the proceeds of the loan to the corporation, unless: (a) The corporation is in default on any previous loan from the fund; or (b) In order to lend
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Financial Code - FIN - FIN § 32823
Financial Code - FIN - FIN § 32823
If the Controller finds either subdivision (a) or (b) of Section 32822 to be the case, the Controller shall deny the loan application of the corporation.
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Financial Code - FIN - FIN § 329
Financial Code - FIN - FIN § 329
(a) For purposes of this section, the following definitions apply: (1) “Applicable law” means: (A) With respect to any bank, Division 1.6 (commencing with Section 4800), and any of the following provisions: (i) Article 6 (commencing with Section 405) of Chapter 3. (ii) Article 3