California Health and Safety Code

§ 44559.2

HSC § 44559.2 Effective Jan 1, 2012Div. 27 · Ch. 1 · Art. 8

Statute text

(a)The authority may contract with any financial institution for the purpose of allowing the financial institution to participate in the Capital Access Loan Program established by this article.

(b)For purposes of this section, the authority may contract with participating financial institutions and shall utilize a standard form of contract that is reviewed and approved by the Department of General Services. The standard form of contract shall provide for all of the following:

(1)The creation of a loss reserve account by the authority for the benefit of the financial institution.

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Legislative history

Amended by Stats. 2011, Ch. 483, Sec. 3. (AB 901) Effective January 1, 2012.