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§ 8078. Participation in the Program by Certain Public or Private Entities.

4 CA ADC § 8078Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 11. California Pollution Control Financing Authority (Refs & Annos)
Article 7. Capital Access Program for Small Businesses
4 CCR § 8078
§ 8078. Participation in the Program by Certain Public or Private Entities.
(a) The Authority shall be authorized to permit any individual, company, corporation, institution, utility, government agency or other entity, including any consortium of these persons or entities, to become an Independent Contributor after such person or entity:
(1) submits to the Authority its Standards; provided that the Authority shall not enforce compliance by the Independent Contributor with its Standards;
(2) represents to the Authority that it will not enter into an exclusive arrangement with a particular Participating Financial Institution, but that it is prepared to work with any Participating Financial Institution under the Program;
(3) agrees to indemnify the Authority against any loss, liability or claim arising from the use of the Independent Contributor's funds in the Program;
(4) represents to the Authority that it understands and intends to abide by the provisions of the Law and this Article with regard to its participation in the Program;
(5) deposits with the Program Trustee an initial amount of at least $15,000 to be used to pay Fees payable by Borrowers and/or Contributions in connection with Qualified Loans, or receives a written waiver from the Executive Director of this requirement; and
(6) agrees to reimburse the Authority for any reasonable costs related to the Independent Contributor's participation in the program, unless waived by the Authority.
(b) An Independent Contributor shall advise the Authority at any time the Standards provided to the Authority pursuant to Section 8078(a)(1) above are changed.
(c) The Authority shall be authorized to terminate an Independent Contributor's participation in the Program at any time, upon written notice, for any cause, including, but not limited to, failure to maintain a minimum deposit of at least $5,000 with the Program Trustee. An Independent Contributor shall be authorized to terminate its participation in the Program at any time, upon written notice.
(d) An Independent Contributor must pay all fees of the Program Trustee attributable to the funds that the Independent Contributor deposits with the Program Trustee.
(e) Fees and Contributions paid by Independent Contributors shall not be subject to the maximums set forth in Health and Safety Code Section 44559.4(c).

Credits

Note: Authority cited: Sections 44520 and 44559.5, Health and Safety Code. Reference: Sections 44525, 44526, 44559.3 and 44559.9, Health and Safety Code.
History
1. Renumbering of former section 8078 to section 8079 and new section 8078 filed 2-6-96 as an emergency pursuant to Health and Safety Code section 44520(b); operative 2-6-96 (Register 96, No. 6). Pursuant to Health and Safety Code section 44520(b), a Certificate of Compliance must be transmitted to OAL by 8-5-96 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 2-6-96 order, including amendment of subsections (a) and (d), new subsection (a)(3), subsection renumbering, and amendment of newly designated subsection (a)(5), transmitted to OAL 8-2-96 and filed 9-10-96 (Register 96, No. 37).
3. Amendment of subsection (a)(5) filed 12-23-98; operative 12-23-98 pursuant to Government Code section 11343.4(d) (Register 98, No. 52).
4. New subsections (a)(6) and (e) and amendment of Note filed 2-11-2009 as an emergency; operative 2-11-2009 (Register 2009, No. 7). A Certificate of Compliance must be transmitted to OAL by 8-10-2009 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 2-11-2009 order transmitted to OAL 5-29-2009 and filed 6-23-2009 (Register 2009, No. 26).
6. Amendment of subsections (a)(5) and (e) filed 6-25-2012 as an emergency; operative 6-25-2012 (Register 2012, No. 26). A Certificate of Compliance must be transmitted to OAL by 12-24-2012 or emergency language will be repealed by operation of law on the following day.
7. Certificate of Compliance as to 6-25-2012 order transmitted to OAL 12-20-2012 and filed 2-4-2013 (Register 2013, No. 6).
8. Amendment of subsections (a)(4) and (a)(5) filed 7-31-2020 as an emergency; operative 7-31-2020 (Register 2020, No. 31). Emergency expiration extended 60 calendar days (Executive Order N-40-20) plus an additional 60 days (Executive Order N-66-20). A Certificate of Compliance must be transmitted to OAL by 5-28-2021 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 7-31-2020 order, including amendment of Note, transmitted to OAL 11-24-2020 and filed 1-11-2021; amendments operative 1-11-2021 pursuant to Government Code section 11343.4(b)(3) (Register 2021, No. 3).
This database is current through 7/5/24 Register 2024, No. 27.
Cal. Admin. Code tit. 4, § 8078, 4 CA ADC § 8078
End of Document