DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION 32000-32823›CHAPTER 7. Borrowing From the State 32810-32823›ARTICLE 3. Borrowing from the Fund 32820-32823
§ 32820
California Financial Code · 2020-11 edition · updated 2026-10-04 · California
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;
(Added by Stats. 1980, Ch. 819, Sec. 1.)
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