LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFinancial CodeDiv. 15.5Ch. 2Art. 3§ 32323 Director Appointment Requirements

§ 32323 Director Appointment Requirements

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 32323 Director Appointment Requirements

Key Takeaways

  • •Some directors are picked by the Governor, Rules Committee, and Speaker.
  • •These directors must meet certain rules to qualify.
  • •They stay in their jobs until new directors for a special fund take over.

Example

Imagine a school club where the principal, a teacher committee, and a student leader pick the club leaders.

These leaders must follow certain rules to be chosen, like having good grades. They keep their roles until new leaders for a special school fund are picked.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 32323 Director Appointment Requirements

(a) The directors selected and appointed by the Governor, Rules Committee, and Speaker shall meet the requirements of subdivision (d) of Section 31152. (b) The directors shall hold office until the directors of the State Assistance Fund for Enterprise, Business and Industrial Development Corporation take office. (Amended by Stats. 1989, Ch. 1040, Sec. 8.)

Last verified: January 23, 2026

Key Terms

corporationgovernortrialdirectorrules committeestate assistance funddevelopment

Related Statutes

  • § 32310 Business Development Corporation Name
  • § 32322 Board Member Terms
  • § 32207 State Assistance Fund Corporation
  • § 32301 Corporation Law Application Rules
  • § 32320 Corporate Board Composition Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 32323.
View Official Source