Statute · California Financial Code
Cal. Fin. Code § 32423 — Government Guaranteed Securities Trust Fund
Cal. Fin. Code § 32423
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2004-03-17
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The proceeds of the sale of government guaranteed securities shall be allocated to the accounts of the corporation in the following manner:
Citator
Cal. Fin. Code § 32423 — Government Guaranteed Securities Trust Fund is in force in the current edition of the Code, and nothing recorded condemns it.
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.