{"data":{"id":"us-ca/fin-32352","jurisdiction":"us-ca","citation":"FIN § 32352","heading":"","body":"The corporation shall (a) be empowered to do and perform all acts contemplated for a business and industrial development corporation, and (b) upon approval of the Small Business Development Board, perform acts contemplated for a small business development corporation, pursuant to Part 5 (commencing with Section 14000) of the Corporations Code.\nNotwithstanding any other provision of law, upon approval by the Small Business Development Board of the corporation’s application to become a small business development corporation pursuant to this section, the sum of seven hundred fifty thousand dollars ($750,000) shall be transferred from the State Enterprise Loan Fund for deposit in the Small Business Expansion Fund created pursuant to Section 14029 of the Corporations Code for immediate transfer to a loan fund established pursuant to Section 14045 of the Corporations Code. Upon suspension of the corporation as a small business development corporation, the funds shall be transferred to the Small Business Expansion Fund pursuant to Section 14025 of the Corporations Code.","path":["Financial Code - FIN","DIVISION 15.5. STATE ASSISTANCE FUND FOR ENTERPRISE, BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATION [32000. - 32823.]","CHAPTER 2. Corporate Matters [32300. - 32352.5.]","ARTICLE 6. Powers, Exclusions and Prohibitions [32350. - 32352.5.]"],"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":"7ab43f1bfc311596fc0fdc7a42c3f43b93556d9b53dd38ba44043815c9c6aef7","source_id":"us-ca","stale":false,"prev":"us-ca/fin-32351","next":"us-ca/fin-32352.5"},"notice":"GroundRules: Original legal text. Not legal advice."}