Amended in Senate August 14, 2013

Amended in Assembly April 30, 2013

California Legislature—2013–14 Regular Session

Assembly Bill No. 201

Introduced by Assembly Member Holden

January 29, 2013

An act to begin delete amend Section 14025 of the Corporations Code, relating to corporations end delete begin insert add Section 12098.8 to the Government Code, relating to business end insert .

LEGISLATIVE COUNSEL’S DIGEST

AB 201, as amended, Holden. begin delete Small business financial development corporations. end delete begin insert Office of Small Business Advocate: small business financial development corporations: Internet Web site information. end insert

begin insert

Existing law creates the Office of Small Business Advocate within the Governor’s Office of Business and Economic Development. Existing law establishes the duties and functions of the advocate, which include advisory participation in the consideration of all legislation and administrative regulations that affect small businesses. Existing law also requires the office to post specified information on its Internet Web site to assist an individual to start a nonprofit corporation in this state.

end insert begin insert

This bill would require the office to post specified information on its Internet Web site regarding programs administered through the statewide network of small business financial development corporations.

end insert begin delete

The California Small Business Financial Development Corporation Law authorizes the formation of small business financial development corporations to grant loans from, or guarantee loans made by a financial institution or financial company against, moneys awarded to the corporation from a specified fund for the purpose of stimulating small business development. That law authorizes or requires the director, as designated, to perform specified duties.

end delete begin delete

This bill would require the director to maintain an Internet Web site that would include, in a specified manner, information on the programs administered through the statewide network of small business financial development corporations, including loan guarantees, direct lending, surety bond guarantees, and disaster loans. This bill would also make conforming changes based on the Governor’s Reorganization Plan Number 2 of 2012.

end delete

Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.

The people of the State of California do enact as follows:

begin insert

begin insert SECTION 1. end insert   

end insert

begin insert Section 12098.8 is added to the end insert begin insert Government Code end insert begin insert ,
to read: end insert

begin insert

begin insert 12098.8. end insert   

The office shall post information on its Internet Web
site regarding the programs administered through the statewide
network of small business financial development corporations.
Programs covered shall include loan guarantees, direct lending,
surety bond guarantees, and disaster loans. Information shall be
presented in a manner appropriate to address the needs of both
small businesses and existing and potential financial institutions
and financial companies.

end insert

begin delete

SECTION 1.  

Section 14025 of the Corporations Code is
amended to read:

14025.  

The director shall do all of the following:

(a) Administer this part.

(b) In accordance with program resources, stimulate the
formation of corporations and the use of branch offices for the
purposes of making this program accessible to all areas of the state.

(c) Expeditiously approve or disapprove the articles of
incorporation and any subsequent amendments to the articles of
incorporation of a corporation.

(d) Require each corporation to submit an annual written plan
of operation.

(e) Review reports from the Division of Financial Institutions
within the Department of Business Oversight, and inform
corporations as to what corrective action is required.

(f) Examine, or cause to be examined, at any reasonable time,
all books, records, and documents of every kind, and the physical
properties of a corporation. The inspection shall include the right
to make copies, extracts, and search records.

(g) Maintain or cause to be maintained an Internet Web site that
includes information on the programs administered through the
statewide network of small business financial development
corporations. Programs covered shall include loan guarantees,
direct lending, surety bond guarantees, and disaster loans.
Information shall be presented in a manner appropriate to address
the needs of both small businesses and existing and potential
financial institutions and financial companies.

end delete