Ca_Law

statute | California

Financial Code - FIN - FIN § 32423

  • UIDca_leginfo_codes:fin-32423
  • CitationFinancial Code - FIN - FIN § 32423
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

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

Text

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 the securities shall be credited to the enterprise loan fund of the corporation; and
(b)
That portion of the proceeds of the sale of government guaranteed
securities which represents the purchase of the future interest earnings of the securities shall be credited to the general operating account of the corporation.

Retrieval chunks

  • #1 | 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 the securities shall be credited to the…