reglab/housing_qa huggingface dataset:
CA Govt Code § 63089.54 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.54.

63089.54.  (a) There is hereby created in the State Treasury the Small Business Disaster Recovery Loan Loss Reserve Account, as part of the expansion fund. This account shall be used to pay for losses resulting from loan guarantees issued pursuant to subdivision (a) of Section 63089.90 or subdivision (b) of this section, and disaster loan guarantees and other credit enhancement defaults issued prior to the effective date of this section that are in default.(b) Any lending institution that issues a loan that is guaranteed by resources in this account shall be fully reimbursed for the guaranteed portion of principal and interest that result from a loan or loans that are in default. If there are insufficient funds in this account to fully satisfy all claimants, the full faith of the resources in the General Fund are pledged to satisfy the obligations of this account. This account may only guarantee as much loan dollar value as is specifically authorized by the Director of Finance with the concurrence of the Governor. This account shall receive all moneys transferred pursuant to Section 63089.55, and any unencumbered balances transferred to the California Small Business Expansion Fund pursuant to Chapters 11 and 12 of the First Extraordinary Session of the Statutes of 1989, and Chapter 1525 of the Statutes of 1990, as of July 1, 1992.(c) The Governor may utilize this authority to prevent business insolvencies and loss of employment in an area affected by a state of emergency within the state and declared a disaster by the President of the United States, by the Administrator of the United States Small Business Administration, or by the United States Secretary of Agriculture, or declared to be in a state of emergency by the Governor of California.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.55 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.55.

63089.55.  The Director of Finance, with the approval of the Governor, may transfer moneys in the Special Fund for Economic Uncertainties to the California Small Business Expansion Fund for use as authorized by the bank board, in an amount necessary to make loan guarantees pursuant to Section 8684.2 and this chapter.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.57 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.57.

63089.57.  Pursuant to this chapter and any directives and requirements adopted pursuant to this chapter, the state has residual interest in the funds deposited by the state to a trust fund account and to the return on these funds from investments. On dissolution, suspension, or termination of the corporation, these funds shall be withdrawn by the program manager from the trust fund account and returned to the expansion fund or temporarily transferred to another trust fund account. This provision shall be contained in the trust instructions to the trustee.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.58 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.58.

63089.58.  Each trust fund account shall consist of a loan guarantee account, and, upon recommendation by the program manager, a bond guarantee account or other financial product account, each of which is a legally separate account, and the assets of one account shall not be used to satisfy loan guarantees or other financial product obligations of another corporation, except when a trust fund account is designated by the program manager to be shared by multiple corporations. The amount of funds allocated to a bond guarantee account shall be pursuant to the directives and requirements. A corporation shall not use trust fund accounts to secure a corporate indebtedness. State funds deposited in the trust fund accounts, with the exception of guarantees established pursuant to this chapter, shall not be subject to liens or encumbrances of the corporation or its creditors.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.59 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.59.

63089.59.  (a) The financial institution or financial company that is to act as trustee of the trust fund shall be designated by the bank. The corporation shall not receive money on deposit to support guarantees or other financial products issued under this chapter without the approval of the program manager.(b) State funds may not be used to finance an expense incurred by a corporation in a location not approved pursuant to the contract between the bank and the corporation. The prohibition against use of state funds also applies to the location of satellite offices, and the area served from a corporation office.(c) Except as otherwise provided in this chapter, the trust fund account shall be used solely to make loans, guarantee bonds and loans, and provide other financial products approved by the corporation that meet the financial product criteria of the directives and requirements. Except as provided in subdivision (b) of Section 63089.54, the state or the bank shall not be liable or obligated in any way as a result of the allocation of state moneys to a trust fund account beyond the state moneys that are allocated and deposited in the fund pursuant to this chapter, and that are not otherwise withdrawn by the state pursuant to this chapter.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.60 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.60.

63089.60.  (a) The program manager shall recommend whether the expansion fund and trust fund accounts are to be leveraged, and if so, by how much. Upon the request of the corporation, the program manager’s decision may be repealed or modified by the executive director or the bank board.(b) The amount of guarantee liability outstanding at any one time shall not exceed 10 times the amount of funds on deposit in the expansion fund plus any receivables due from funds loaned from the expansion fund to another fund in state government as directed by the Department of Finance pursuant to a statute enacted by the Legislature, including each of the trust fund accounts within the trust fund.(Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, Sec. 4. (SB 936) Effective January 1, 2017.)
CA Govt Code § 63089.61 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.61.

63089.61.  (a) The corporate guarantee shall be backed by funds on deposit in the corporation’s trust fund account, or by receivables due from funds loaned from the corporation’s trust fund account to another fund in state government, as directed by the Department of Finance pursuant to a statute enacted by the Legislature.(b) Loan guarantees shall be secured by a reserve of at least 10 percent to be determined by the program manager unless a higher leverage ratio for an individual corporation has been approved pursuant to subdivision (b) of Section 63089.56.(c) The expansion fund and trust fund accounts shall be used to guarantee obligations and other financial product obligations, to pay the administrative costs of the corporations, and for other uses pursuant to this chapter and Section 8684.2.(Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, Sec. 6. (SB 936) Effective January 1, 2017.)
CA Govt Code § 63089.62 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 5 - Expansion Fund and Trust Fund|Section 63089.62.

63089.62.  (a) It is the intent of the Legislature that the corporations make maximum use of their statutory authority to guarantee loans and surety bonds, and administer other financial products, including the authority to secure loans with a minimum loan loss reserve of only 10 percent, unless the program manager authorizes a higher leverage ratio for an individual corporation pursuant to subdivision (b) of Section 63089.56, so that the financing needs of small business may be met as fully as possible within the limits of corporations’ trust fund account balance.(b) Any corporation that serves an area declared to be in a state of emergency by the Governor or a disaster area by the President of the United States, the Administrator of the United States Small Business Administration, or the United States Secretary of Agriculture shall increase the portfolio of loan guarantees where the dollar amount of the loan is less than one hundred thousand dollars ($100,000), so that at least 15 percent of the dollar value of loans guaranteed by the corporation is for those loans. The corporation shall comply with this requirement within one year of the date the emergency or disaster is declared. Upon application of a corporation, the executive director may waive or modify the rule for the corporation if the corporation demonstrates that it made a good faith effort to comply and failed to locate lending institutions in the region that the corporation serves that are willing to make guaranteed loans in that amount.(Amended (as added by Stats. 2013, Ch. 537, Sec. 4, 1st text) by Stats. 2016, Ch. 713, Sec. 8. (SB 936) Effective January 1, 2017.)
CA Govt Code § 63089.65 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 6 - Corporations, Miscellaneous|Section 63089.65.

63089.65.  (a) A corporation shall establish one or more loan committees, each of which shall be composed of five or more persons, a majority of whom shall be experienced in banking and lending operations.(b) A loan committee shall review applications to the corporation for a loan or guarantee and shall do each of the following:(1) Determine the feasibility of the proposed transaction. The loan committee shall recommend approval of the application only upon a determination that there is a reasonable chance that the loan will be repaid.(2) On the basis of that determination, recommend to the board of directors any action that the loan committee deems appropriate under the circumstances, or, in the event that approval authority has been delegated to the loan committee by the board of directors, approve or disapprove the loan application.(c) A loan committee shall expeditiously act to accept or reject loan applications.(d) A person who has a financial interest related to a matter over which the loan committee has authority may not make, participate in making, or in any way attempt to influence that matter.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.66 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 6 - Corporations, Miscellaneous|Section 63089.66.

63089.66.  Unless delegated to its loan committee, the corporation’s board of directors, upon a recommendation from its loan committee, shall do all of the following:(a) Emphasize consideration to applications that will increase employment of disadvantaged, disabled, or unemployed persons, or increase employment of youth residing in areas of high youth unemployment and high youth delinquency.(b) Give consideration to applications from traditional and safety-net providers of Medi-Cal services that will promote access to quality medical care for individuals enrolled in Medi-Cal managed health care networks that are contracting with or owned or operated by a county board of supervisors, a county health commission, or a county health authority organized pursuant to Section 14018.7, 14087.31, 14087.35, 14087.36, 14087.38, or 14087.9605 of the Welfare and Institutions Code.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.67 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 6 - Corporations, Miscellaneous|Section 63089.67.

63089.67.  A corporation may charge the borrower or financial institution a loan fee or credit enhancement fee on all loans made or guaranteed by the corporation to defray the operating expenses of the corporation. The amount of the fee shall be determined by the directives and requirements.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.70 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 7 - Loan Guarantees|Section 63089.70.

63089.70.  (a) The Small Business Expansion Fund, which is hereby continued in existence, shall, among other things, provide guarantees to loans offered by financial institutions and financial companies to small businesses.(b) The Legislature finds and declares that the Small Business Loan Guarantee Program has enabled participating small businesses that do not qualify for conventional business loans or Small Business Administration loans to secure funds to expand their businesses. These small businesses would not have been able to expand their businesses in the absence of the program. The program has also provided valuable technical assistance to small businesses to ensure growth and stability. The study commissioned by former Section 14069.6 of the Corporations Code, as added by Chapter 919 of the Statutes of 1997, documented the return on investment of the program and the need for its services. The value of the program has also been recognized by the Governor through proposals contained in the May Revision to the Budget Act of 2000 for the 2000–01 fiscal year.(c) A corporation shall not issue a guarantee under this section unless it determines that the following conditions are satisfied:(1) There is a low probability that the loan being guaranteed would be granted by a financial company or financial institution under reasonable terms and conditions and the borrower has demonstrated a reasonable prospect of repayment.(2) The loan proceeds will be used exclusively in this state.(3) The loan qualifies as a small business loan or an employment incentive loan.(4) The borrower has a minimum equity interest in the business as determined by the directives and requirements.(5) As a result of the loan being guaranteed, the jobs generated or retained demonstrate reasonable conformance to any directives and requirements specifying employment criteria.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.71 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 7 - Loan Guarantees|Section 63089.71.

63089.71.  (a) Among other priorities, corporations shall give high priority to the issuance of loan guarantees to small business incubators and to businesses that lease space in incubators.(b) For the purposes of this section, “incubator” means a facility that allows new small businesses to increase their probability of success by sharing needed capital equipment, services, and facilities, which may include, but are not limited to, the following:(1) Reception and meeting area.(2) Secretarial services, such as collating, telephone answering, or mailhandling.(3) Accounting and bookkeeping services.(4) Research libraries.(5) Onsite financial and management counseling.(6) Parking.(7) Flexible lease arrangements for flexible space.(8) Computer or word processing facilities.(9) Day care facilities.(10) Office furniture rentals.(11) A graduation policy sometimes requiring firms to leave after three to five years in a subsidized, nurturing environment.(12) Employee training and placement services.(c) Among other priorities, corporations shall give high priority to marketing their services to Phase 1 or Phase 2 Small Business Innovation Research (SBIR) recipients and providing loan guarantees, whenever possible.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.90 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 9 - Disaster Loan Guarantees|Section 63089.90.

63089.90.  (a) Pursuant to Section 8684.2 and the contract between a corporation and the bank, a corporation may, in an area affected by a state of emergency within the state and declared a disaster by the President of the United States, the Administrator of the United States Small Business Administration, or the United States Secretary of Agriculture, or declared to be in a state of emergency by the Governor of California, provide loan guarantees from funds allocated in Section 63089.55 to small businesses, small farms, nurseries, and agriculture-related enterprises that have suffered actual physical damage or significant economic injury as a result of the disaster.(b) The bank board may adopt directives and requirements to implement the disaster loan guarantee program authorized by this section. Any regulations adopted under Chapter 1 (commencing with Section 14000) of Part 5 of Division 3 of Title 1 of the Corporations Code shall remain in effect until the bank adopts directives and requirements, however, these regulations shall have no effect after June 1, 2015.(c) A corporation shall not issue a disaster loan guarantee unless and until it determines that the following conditions are satisfied:(1) The borrower cannot reasonably obtain a disaster loan without some form of credit enhancement.(2) The borrower has demonstrated a reasonable prospect of repayment.(3) The guaranteed loan will be used exclusively in this state.(4) The disaster loan qualifies as a small business loan or employment incentive loan.(d) Allocations pursuant to subdivision (a) shall be deemed to be for extraordinary emergency or disaster response operations costs incurred by the issuance of disaster loan guarantees.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.95 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 10 - Surety Bond Guarantees|Section 63089.95.

63089.95.  In furtherance of the purposes set forth in Section 63088.1 of this code and Section 14001 of the Corporations Code, a corporation may do any one or more of the following activities, but only to the extent that the activities are authorized pursuant to the contract between the bank and corporation: guarantee, endorse, or act as surety on the bonds, notes, contracts, or other obligations of, or assist financially, any person, firm, corporation, or association, and may establish and regulate the terms and conditions with respect to any such guarantees or financial assistance and the charges for interest and service connected therewith, except that the corporation shall not make or guarantee any loan, unless and until it determines:(a) There is a low probability that the surety bond would be granted by a financial institution or financial company under reasonable terms or conditions, and the beneficiary has demonstrated a reasonable prospect of successful completion of the project.(b) The surety bond project coverage will be used exclusively in this state.(c) The beneficiary has a minimum equity interest in the business as determined by the directives and requirements.(d) As a result of the surety bond, the jobs generated or retained demonstrate reasonable conformance to the directives and requirements specifying employment criteria.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)
CA Govt Code § 63089.96 (2021)
2021 California Code|Government Code - GOV|TITLE 6.7 - INFRASTRUCTURE FINANCE|DIVISION 1 - THE BERGESON-PEACE INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK ACT|CHAPTER 6 - Small Business Financial Assistance Act of 2013|ARTICLE 10 - Surety Bond Guarantees|Section 63089.96.

63089.96.  (a) In addition to the authority granted by Section 63089.95, pursuant to the directives and requirements a corporation may act as guarantor on a surety bond for any small business contractor, including, but not limited to, women, minority, and disabled veteran contractors.(b) The provisions of subdivision (a) allowing a corporation to act as a guarantor on surety bonds may be funded through appropriate state or federal funding sources. Federal funds shall be deposited in the Federal Trust Fund in the State Treasury in accordance with Section 16360, for transfer to the expansion fund.(Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.)