Fin. Code, § 32423 · Article 3. Government Guaranteed Securities Trust Fund
Fin. Code, § 32423
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The proceeds of the sale of government guaranteed securities shall be allocated to the accounts of the corporation in the following manner:
(a) That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the principal amount of the securities shall be credited to the enterprise loan fund of the corporation; and
(b) That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the future interest earnings of the securities shall be credited to the general operating account of the corporation.
Notes and commentary — not statutory text
History
Amended by Stats. 2004, Ch. 25, Sec. 9. Effective March 17, 2004.
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=FIN§ionNum=32423.
- Text hash
- sha256 25186f4278ef739df6c3683e62581ef8578a8bbd4d4d08192e272e075c417a21
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.