SECTIONS 14090-14091 - California Statutes

CORPORATIONS CODE

SECTION 14090-14091

14090. (a) Corporations shall give high priority to the issuance of
loan guarantees to small business incubators, and to businesses that
lease space in incubators.
(b) For the purposes of this section, "incubator" means a facility
that allows new small businesses to increase their probability of
success by sharing needed capital equipment, services, and
facilities, which may include, but are not limited to, the following:
(1) Reception and meeting area.
(2) Secretarial services (i.e., collating, telephone answering,
mailhandling).
(3) Accounting and bookkeeping services.
(4) Research libraries.
(5) Onsite financial and management counseling.
(6) Parking.
(7) Flexible lease arrangements for flexible space.
(8) Computer/word processing facilities.
(9) Day care facilities.
(10) Office furniture rentals.
(11) A graduation policy sometimes requiring firms to leave after
three to five years in a subsidized, nurturing environment.
(12) Employee training and placement services.

14091. If a firm has received a Phase 1 or Phase 2 Small Business
Innovation Research (SBIR) grant awarded by a federal agency.
Corporations shall give high priority to marketing their services to
SBIR recipients and providing loan guarantees whenever possible.