Corp. Code, § 14004.2 · Article 3. Program Manager
Corp. Code, § 14004.2
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The bank board shall approve new corporations recommended by the program manager, based on an examination of each of the following:
(a) Review of the articles of incorporation and bylaws of the corporation to determine whether they contain the provisions required by this chapter and conform with the directives and requirements adopted by the bank board pursuant to this chapter.
(b) Determination as to whether the legislative intent expressed in Section 14001 will be served by the proposed corporation.
(c) Determination as to whether the responsibility, character, and general fitness of the individuals who will manage the corporation are able to command the confidence of the state and to warrant the belief that the business of the proposed corporation will be honestly and efficiently conducted in accordance with the intent and purpose of this chapter and that they include representatives of the financial and business community, as well as the economically disadvantaged.
(d) Determination of the program manager that there is significant need for a new corporation.
Notes and commentary — not statutory text
History
Added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=14004.2.
- Text hash
- sha256 38c4464e345260bdb8af109c4ad7bd669743894b08574c946448e50e1d67fdab
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Corporations Code
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