Added by Stats. 2013, Ch. 537, Sec. 4. (AB 1247) Effective October 4, 2013.
The bank is authorized to:
(a)Approve new corporations recommended by the program manager.
(b)Enter into contracts with corporations for program management and other financial product-related services.
(c)Select a financial institution or financial company to act as trustee of the trust fund as specified in this chapter.
(d)Invest expansion fund and trust fund moneys as specified in this chapter.
(e)Affirm, modify, or rescind the determinations of the program
manager and the executive director as specified in this chapter.
(f)Adopt directives and requirements as specified in this chapter.
(g)Authorize new financial product programs and activities pursuant to this chapter.
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