Code Section Group

Corporations Code - CORP

TITLE 1. CORPORATIONS [100 - 14631]

  ( Title 1 enacted by Stats. 1947, Ch. 1038. )

DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES [12000 - 14631]

  ( Division 3 enacted by Stats. 1947, Ch. 1038. )

PART 5. SMALL BUSINESSES [14000 - 14024]

  ( Heading for Part 5 [as added by Stats. 1989, Ch. 1399] added by Stats. 1990, Ch. 216, Sec. 10. )

CHAPTER 1. California Small Business Financial Development Corporations [14000 - 14024]

  ( Chapter 1 repealed and added by Stats. 2013, Ch. 537, Sec. 2. )

ARTICLE 7. Conflict of Interest [14022 - 14024]
  ( Article 7 added by Stats. 2013, Ch. 537, Sec. 2. )

14022.
  

It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer, director, contractor, or employee of a corporation, or who is a member of a loan committee, or who is an employee of the California Infrastructure and Economic Development Bank to do any of the following:

(a) Ask for, consent, or agree to receive, any commission, emolument, gratuity, money, property, or thing of value for his or her own use, benefit, or personal advantage, for procuring or endeavoring to procure for any person, partnership, joint venture, association, or corporation, any loan, guarantee, financial, or other assistance from any corporation.

(b) Borrow money, property, or to benefit knowingly, directly or indirectly, from the use of the money, credit, or property of any corporation.

(c) Make, maintain, or attempt to make or maintain, a deposit of the funds of a corporation with any other corporation or association on condition, or with the understanding, expressed or implied, that the corporation or association receiving the deposit shall pay any money or make a loan or advance, directly or indirectly, to any person, partnership, joint venture, association, or corporation, other than to a corporation formed under this chapter.

(Repealed and added by Stats. 2013, Ch. 537, Sec. 2. Effective October 4, 2013.)

14023.
  

It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a corporation, or who is an employee of the California Infrastructure and Economic Development Bank to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.

(Repealed and added by Stats. 2013, Ch. 537, Sec. 2. Effective October 4, 2013.)

14024.
  

Violation of any provision of this article shall constitute a felony.

(Repealed and added by Stats. 2013, Ch. 537, Sec. 2. Effective October 4, 2013.)

CORPCorporations Code - CORP7.