Statute · California Government Code
Cal. Gov't Code § 63089.57 — Expansion Fund and Trust Fund
Cal. Gov't Code § 63089.57
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2013-10-04
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Pursuant to this chapter and any directives and requirements adopted pursuant to this chapter, the state has residual interest in the funds deposited by the state to a trust fund account and to the return on these funds from investments. On dissolution, suspension, or termination of the…
Citator
Cal. Gov't Code § 63089.57 — Expansion Fund and Trust Fund is in force in the current edition of the Code, and nothing recorded condemns it.
Pursuant to this chapter and any directives and requirements adopted pursuant to this chapter, the state has residual interest in the funds deposited by the state to a trust fund account and to the return on these funds from investments. On dissolution, suspension, or termination of the corporation, these funds shall be withdrawn by the program manager from the trust fund account and returned to the expansion fund or temporarily transferred to another trust fund account. This provision shall be contained in the trust instructions to the trustee.