BILL NUMBER: AB 2111	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Campos

                        FEBRUARY 23, 2012

   An act to amend Section 14025 of the Corporations Code, relating
to small business financial development corporations.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2111, as introduced, Campos. Small business financial
development corporations.
   Existing law, the California Small Business Financial Development
Corporation Law, creates the California Small Business Board and the
California Small Business Expansion Fund. Existing 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
the expansion fund for the purpose of stimulating small business
development. Existing law authorizes or requires the director
designated by the Secretary of Business, Transportation and Housing
to perform specified duties.
   This bill would require the director to cause the names of the
financial institutions and financial companies making direct loans
under the program to be posted on the agency's Internet Web site.
   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 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 Department of Financial Institutions
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) Cause the names of the financial institutions and financial
companies making direct loans under the program to be posted on the
agency's Internet Web site.