2011 California Code
Corporations Code
TITLE 1. CORPORATIONS [100 - 14551]
ARTICLE 6. New Corporations
Section 14045
Upon approval by the director to become a corporation, the entity shall adopt or amend its articles of incorporation to comply with the following:
(a) The name of the corporation shall include the words small business financial development corporation, except for those corporations formed pursuant to this part prior to 2002, which may also be called small business development corporations, or those formed prior to 1985, which may also be called rural or urban development corporations.
(b) The purposes for which the corporation is formed, which shall be those specified in Section 14002. This requirement shall not be deemed to preclude a statement of powers.
(c) A geographical description of the corporation s service area.
(d) The name and addresses of seven or more persons who are to act in the capacity of directors until the selection of their successors.
(e) That the corporation is organized pursuant to the California Small Business Financial Development Corporation Law.
(Amended by Stats. 2002, Ch. 436, Sec. 4. Effective January 1, 2003.)
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