Section 63021 Of Article 1. Creation Of The Bank From California Government Code >> Division 1. >> Title 6.7. >> Chapter 2. >> Article 1.

. (a) There is within the Governor's Office of Business and Economic Development the Infrastructure and Economic Development Bank which shall be responsible for administering this division.
  (b) The bank shall be under the direction of an executive director appointed by the Governor, and who shall serve at the pleasure of the Governor. The appointment shall be subject to confirmation by the Senate.