Section 1300.76.2 - Solicitor Firm Financial Requirement(a) Each solicitor firm which handles funds of plans, subscribers, or other persons contracting with plans, shall at all times maintain a tangible net worth at least equal to 20 percent of such firm's aggregate indebtedness or $10,000, whichever is greater, and shall maintain liquid net assets of at least $5,000 in excess of it current liabilities.(b) A solicitor firm which accepts only funds in the form of checks payable to plans, subscribers or other persons contracting with plans and forwards such checks to the payee by the close of the business day following receipt thereof does not "handle funds" within the meaning of this section.Cal. Code Regs. Tit. 28, § 1300.76.2
1. Editorial correction adding NOTE filed 12-8-82 (Register 82, No. 50). Note: Authority cited: Section 1344, Health and Safety Code. Reference: Section 1376, Health and Safety Code.
1. Editorial correction adding NOTE filed 12-8-82 (Register 82, No. 50).