California Government Code 15438.2 – (a) When capital outlay funds are granted on property which is …
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(a) When capital outlay funds are granted on property which is leased for a child day care facility, the term of the lease shall be as long as, or greater than, the term of the loan.
(b) Child day care facilities shall be insurable under the California Health Facility Construction Loan Insurance Law.
Terms Used In California Government Code 15438.2
- child: means a minor from birth to 18 years of age. See California Government Code 15432
- Health facility: includes a clinic that is described in subdivision (l) of §. See California Government Code 15432
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(Added by Stats. 1985, Ch. 829, Sec. 2. Effective September 19, 1985.)