California Public Resources Code

§ 33344

PRC § 33344 Effective Jan 1, 2005Div. 23.3 · Ch. 3

Statute text

In the case of a grant of funds to a nonprofit organization or tribal organization to acquire an interest in real property, including, but not limited to, a fee interest, the agreement between the conservancy and the recipient nonprofit organization shall require all of the following:

(a)The purchase price of an interest in real property acquired by the nonprofit organization shall not exceed fair market value as established by an appraisal approved by the conservancy.

(b)The terms under which the interest in real property is acquired shall be subject to the conservancy’s approval.

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Legislative history

Added by Stats. 2004, Ch. 726, Sec. 1. Effective January 1, 2005.