California Education Code

§ 94157

EDC § 94157 Effective Jan 1, 2015Div. 10 · Title 3 · Part 59 · Ch. 2 · Art. 4.1

Statute text

As used in this article, unless the context requires otherwise, the following terms have the following meanings:

(a)“Executive director” means the Executive Director of the California Educational Facilities Authority.

(b)“Financial institution” means a bank as defined under paragraph (4) of subdivision (b) of Section 1201 of the Commercial Code, including a federal- or state-chartered bank, that has been approved by the authority to enroll qualified loans in the program and has agreed to all terms and conditions set forth in this article and as may be required by the authority. A financial institution shall have a branch or office, or be otherwise present for jurisdictional purposes, in California.

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Legislative history

Added by Stats. 2014, Ch. 816, Sec. 2. (AB 2377) Effective January 1, 2015.