DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION 32000-32823›CHAPTER 3. Corporate Finances 32400-32423›ARTICLE 1. Corporate Accounts 32400-32404

§ 32404

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

Beginning with the fiscal year which begins July 1, 1982, and each fiscal year thereafter, the board shall not adopt any budget for the corporation in which the projected total operating expenditures exceed the expected balance of the general operating account.

(Added by Stats. 1980, Ch. 819, Sec. 1.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code

Export this section

▸Contents — California Financial Code

California Financial Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.