Cal. Code Regs. tit. 2 § 1899.530

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 1899.530 - Goals

The statutory goals for professional bond services in connection with bonds sold in negotiated transactions need not be met in every individual contract for services but will be pursued on an aggregate annual basis considering all contracts for professional bond services during a year. Thus, during the course of a year, there may be contracts without TBE participation and contracts with TBEs as prime contractor or TBE participation substantially higher than the statutory goal. Contractors in negotiated transactions shall be required to demonstrate that a good faith effort (as defined in section 1899.501 of title 2 of the California Code of Regulations) was made to comply with the Treasurer's participation goals for DVBEs. This requirement shall be satisfied by including a written statement in the report submitted by the senior managing underwriter in accordance with section 1899.532, below.

Cal. Code Regs. Tit. 2, § 1899.530

1. New section filed 4-10-89 as an emergency; operative 4-10-89 (Register 89, No. 15). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 8-8-89.
2. Certificate of Compliance transmitted to OAL 8-8-89 and filed 9-7-89 (Register 89, No. 40).
3. Amendment filed 6-19-91; operative 6-19-91 (Register 91, No. 42).

Note: Authority cited: Section 16853, Government Code; Section 999.5, Military and Veterans Code. Reference: Section 16850, Government Code; Sections 999- 999.5, Military and Veterans Code.

1. New section filed 4-10-89 as an emergency; operative 4-10-89 (Register 89, No. 15). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 8-8-89.
2. Certificate of Compliance transmitted to OAL 8-8-89 and filed 9-7-89 (Register 89, No. 40).
3. Amendment filed 6-19-91; operative 6-19-91 (Register 91, No. 42).