Cal. Ed. Code § 17198

Current through the 2023 Legislative Session.

Section 17198 - Earnings inure to benefit of state or authority

Any net earnings of the authority beyond that necessary for the retirement of any obligations issued by the authority, or to implement the purposes of this chapter, may inure only to the benefit of the State of California or the authority.

Ca. Educ. Code § 17198

Added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.