(a) The Charter School Security Fund is hereby created in the State Treasury.
(b) Moneys in the fund shall be available for deposit into the Charter School Revolving Loan Fund in case of default on any loan made from the Charter School Revolving Loan Fund.
(c) Commencing with the 2013–14 fiscal year, the administration of the Charter School Security Fund shall be transferred to the California School Finance Authority.
(Amended by Stats. 2013, Ch. 357, Sec. 16. (SB 97) Effective September 26, 2013.)