§ 32423 Securities Sale Proceeds Allocation

Financial Code·California

AI SummaryVerified

Key Takeaways

•When the government sells special safe investments (like bonds), the money goes to two places.
•The main part of the money goes to a fund that helps businesses get loans.
•The extra money (like interest or profit) goes to the government's everyday spending account.

Example

Imagine the government sells a $100 bond that will earn $5 in interest.

The $100 goes to help businesses get loans, and the $5 interest goes to the government's regular spending money.

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

Official Source

View on CA.gov

§ 32423 Securities Sale Proceeds Allocation

The proceeds of the sale of government guaranteed securities shall be allocated to the accounts of the corporation in the following manner: (a) That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the principal amount of the securities shall be credited to the enterprise loan fund of the corporation; and (b) That portion of the proceeds of the sale of government guaranteed securities which represents the purchase of the future interest earnings of the securities shall be credited to the general operating account of the corporation. (Amended by Stats. 2004, Ch. 25, Sec. 9. Effective March 17, 2004.)

Last verified: January 23, 2026

Key Terms

corporation enterprise loan fund,port securities effective march

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 32423.

§ 32423 Securities Sale Proceeds Allocation

Financial Code·California

AI SummaryVerified

§ 32423 Securities Sale Proceeds Allocation

Key Takeaways

•When the government sells special safe investments (like bonds), the money goes to two places.
•The main part of the money goes to a fund that helps businesses get loans.
•The extra money (like interest or profit) goes to the government's everyday spending account.

Example

Imagine the government sells a $100 bond that will earn $5 in interest.

The $100 goes to help businesses get loans, and the $5 interest goes to the government's regular spending money.

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

Official Source

View on CA.gov

§ 32423 Securities Sale Proceeds Allocation

Last verified: January 23, 2026

Key Terms

corporation enterprise loan fund,port securities effective march

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 32423.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References