Statute · California Financial Code
Cal. Fin. Code § 32325 — Board of Directors
Cal. Fin. Code § 32325
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2004-03-17
- Current through
- Nov 2, 2026 (California Legislative Counsel)
If the corporation becomes a federal Community Development Financial Institution (CDFI), in addition to the official and public directors provided for in Section 32321, the board may select not more than three private directors to assist the board in managing the corporation, subject to the…
Citator
Cal. Fin. Code § 32325 — Board of Directors is in force in the current edition of the Code, and nothing recorded condemns it.
If the corporation becomes a federal Community Development Financial Institution (CDFI), in addition to the official and public directors provided for in Section 32321, the board may select not more than three private directors to assist the board in managing the corporation, subject to the following:
(a) Private directors shall serve on the board in an advisory and voluntary capacity.
(b) Each private director shall be knowledgeable about the CDFI target market.
(c) At the discretion of the board, private directors shall be eligible to receive compensation, subject to the limitations contained in subdivision (b) of Section 32324.