BILL NUMBER: AB 201	AMENDED
	BILL TEXT

	AMENDED IN SENATE  AUGUST 14, 2013
	AMENDED IN ASSEMBLY  APRIL 30, 2013

INTRODUCED BY   Assembly Member Holden

                        JANUARY 29, 2013

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


	LEGISLATIVE COUNSEL'S DIGEST


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

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


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

   SECTION 1.    Section 12098.8 is added to the 
 Government Code  , to read:  
   12098.8.  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.  
  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.