California Corporations Code

§ 14005

CORP § 14005 Effective Oct 4, 2013Div. 3 · Title 1 · Part 5 · Ch. 1 · Art. 4

Statute text

Upon approval by the bank board to become a corporation, an entity shall adopt or amend its articles of incorporation to comply with the following:

(a)The name of the corporation shall include the words “small business financial development corporation,” except for those corporations formed pursuant to this chapter prior to 2002, which may also be called “small business development corporations,” or those formed prior to 1985, which may also be called “rural or urban development corporations.”

(b)The purposes for which the corporation is formed, which shall be those specified in Section 14001. This requirement shall not be deemed to preclude a statement of powers.

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Legislative history

Added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.