{"data":{"id":"us-ca/corp-14014","jurisdiction":"us-ca","citation":"CORP § 14014","heading":"","body":"The bank shall enter into a contract with each corporation that shall require that:\n(a) A person may not serve on a corporation’s board of directors who is not a resident of, or person conducting business in, the primary service area described in the articles of incorporation.\n(b) A corporation’s board of directors shall include representatives from all of the following:\n(1) The financial community.\n(2) The business community.\n(3) The economically disadvantaged.\n(c) The chief executive officer of a corporation, or his or her designee, is the only employee of the corporation who may serve on its board of directors.\n(d) A person who has a financial interest related to a matter over which the board of directors has authority may not make, participate in making, or in any way attempt to influence that matter.","path":["Corporations Code - CORP","TITLE 1. CORPORATIONS [100. - 14707.]","DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES [12000. - 14707.]","PART 5. SMALL BUSINESSES [14000. - 14024.]","CHAPTER 1. California Small Business Financial Development Corporations  [14000. - 14024.]","ARTICLE 5. Corporation Board [14013. - 14017.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"83fe3582fb3b2d8bfdecae3fd48f8c92104c18851511b967ac51d5a2c897b74c","source_id":"us-ca","stale":false,"prev":"us-ca/corp-14013","next":"us-ca/corp-14015"},"notice":"GroundRules: Original legal text. Not legal advice."}