Cal. Fin. Code § 17321.1

Current through the 2023 Legislative Session.

Section 17321.1 - Special assessment

Fidelity Corporation shall levy a special assessment against its members whenever:

(a) Deemed necessary by the board of directors in the event of any extraordinary expenses which would seriously deplete the resources of the operations fund; or

(b) A proof of loss has been submitted by a member which, if paid during that fiscal year, would reduce the membership fund by 10 percent or more.

Ca. Fin. Code § 17321.1

Added by Stats. 1988, Ch. 1458, Sec. 15. Effective September 28, 1988.