California Financial Code

§ 22064

FIN § 22064 Effective Jan 1, 2010Div. 9 · Ch. 1 · Art. 2

Statute text

(a)This division does not apply to the following:

(1)A program-related investment defined in subsection (c) of Section 4944 of the Internal Revenue Code and United States Treasury Regulations Section 53.4944-3 that is made by a private foundation, tax-exempt organization within the meaning of Section 509(a) of the Internal Revenue Code.

(2)A loan, guaranty, or investment made by a public charity, tax-exempt organization within the meaning of paragraph (1), (2), or (3) of subsection (a) of Section 509 of the Internal Revenue Code that meets all of the following requirements:

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Legislative history

Amended by Stats. 2009, Ch. 103, Sec. 1. (AB 401) Effective January 1, 2010.