§ 5905
72 words·~1 min read·
/ca/government-code/5905A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
One or more state or local governments may cause to be formed, and may acquire all, but not less than all, of the voting stock in, one or more corporations, not chartered by a state or federal agency as a depository institution, but organized for the purpose of undertaking financing programs approved by each legislative body and found by each legislative body to be of benefit to the state or local government.