SECTIONS 32300-32301 - California Statutes

FINANCIAL CODE

SECTION 32300-32301

32300. The Legislature hereby authorizes the creation of a
nonprofit corporation pursuant to the provisions of the Nonprofit
Corporation Law (Part 1 (commencing with Section 9000), Division 2,
Title 1 of the Corporations Code) on January 1, 1981.

32301. Except as otherwise provided in this division:
(a) The Nonprofit Corporation Law shall apply to the corporation.
However, whenever any provision of the Nonprofit Corporation Law
conflicts with any provision of this division, the provision of the
Nonprofit Corporation Law shall not apply and the provision of this
division shall apply.
(b) The Business and Industrial Development Corporation Law
(Division 15 (commencing with Section 31000)) shall apply to this
corporation. However, whenever any provision of the Business and
Industrial Development Corporation Law conflicts with any provision
of this division, the provision of the Business and Industrial
Development Corporation Law shall not apply and the provision of this
division shall apply.
(c) The Small Business Development Corporation Law (Chapter 1
(commencing with Section 14000) of Part 5 of Division 3 of Title 1 of
the Corporations Code) shall apply to the corporation, except that,
to the extent of any conflict between those provisions and this
division, the provisions of this division shall prevail.
(d) Whenever a conflict exists between any of the following acts,
the conflict shall be resolved by applying the conflicting provision
contained in the act in order of preference as listed in this
subdivision, and the applicable provision shall prevail over the
other conflicting provisions:
(1) The Business and Industrial Development Corporations Law
(Division 15 (commencing with Section 31000)).
(2) The Small Business Development Corporation Law (Ch. 1
(commencing with Section 14000), Pt. 5, Div. 3, Corp. C.).
(3) The Nonprofit Corporation Law (Div. 2 (commencing with Section
5000) Pt. 1, Corp. C.).
(e) The State Assistance Fund for Enterprise, Business, and
Industrial Development Corporation (SAFE-BIDCO), which was
established by this division, meets the definition of a community
development financial institution for purposes of eligibility
consistent with Sections 12209, 17053.57, and 23657 of the Revenue
and Taxation Code.