Ca. Pen. Code § 2810.5 Grant of Loans

• Library: California Codes
• Edition: 2023 Edition
• Currency: Current through the 2023 Legislative Session.
• Year: 2023
• Citation: Ca. Pen. Code § 2810.5

Notwithstanding any other provision of law, commencing July 1, 2005, the Pooled Money Investment Board, or its successor, may grant loans to the authority when money is appropriated for that purpose by the Legislature, upon application by the Secretary of the Department of Corrections and Rehabilitation, in order to finance the establishment of a new industrial, agricultural, or service enterprise. All loans shall bear the same interest rate

as the pooled money market investment rate and shall have a maximum repayment period of 20 years from the date of approval of the loan.

Prior to making its decision to grant a loan, the Pooled Money Investment Board, or its successor, shall require the authority to demonstrate all of the following: