California § 32325 - If the corporation becomes a federal Community Development Financial Institution
Full text of California Public Contract Code - PCC § 32325 — If the corporation becomes a federal Community Development Financial Institution, with citation guidance and answers to common questions.
§ 32325. If the corporation becomes a federal Community Development Financial Institution
If the corporation becomes a federal Community Development Financial Institution (CDFI), in addition to the official and public directors provided for in Section 32321, the board may select not more than three private directors to assist the board in managing the corporation, subject to the following: (a) Private directors shall serve on the board in an advisory and voluntary capacity. (b) Each private director shall be knowledgeable about the CDFI target market. (c) At the discretion of the board, private directors shall be eligible to receive compensation, subject to the limitations contained in subdivision (b) of Section 32324.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 32325
What does Public Contract Code - PCC § 32325 cover?
Section 32325 ("If the corporation becomes a federal Community Development Financial Institution") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 32325?
A common citation format is "Public Contract Code - PCC § 32325" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 32325 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.