§ 17550.42.5. — 17550.42.5. (Added by renumbering Section 17550.42 (as added by Stats. 2003, Ch. 196, Sec. 11) by Stats. 2015, Ch. 303, Sec. 17.)

California § 17550.42.5.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 7.: DIVISION 7. GENERAL BUSINESS REGULATIONS
• Part 3.: PART 3. REPRESENTATIONS TO THE PUBLIC
• Ch. 1.: CHAPTER 1. Advertising
• Art. 2.7.: ARTICLE 2.7. Travel Consumer Restitution Plan

Text

(a)
Within 30 days of the close of the fiscal year or other reasonable period established by the board of directors, the Travel Consumer Restitution Corporation shall make publicly available a statement of the following information concerning the most recently concluded fiscal year:
(1)
The number of claims and approximate dollar amount of the claims received.
(2)
The total number of claims and total dollar amount of claims paid.
(3)
The approximate number and dollar amount of claims denied or abandoned.
(4)
The dollar balance in the restitution fund.
(5)
The amount of assessments received from participants and the operating and administrative costs and expenses of the corporation.
(6)
The number of new participants and the amount of assessments received from them.
(b)
The Travel Consumer Restitution Corporation shall make publicly available within 15 days of the board of directors’ approval, or other reasonable period established by the board of directors, the following information:
(1)
The approved minutes of meetings of the board of directors.
(2)
The approved estimated annual operational budget projecting the costs of
operations and administration for the succeeding fiscal year, excluding the amount to be paid for claims.
(3)
The approved bylaws, as amended, of the Travel Consumer Restitution Corporation.
(c)
Information may be made publicly available as required by this section by disseminating the information on an Internet Web site or providing the information by electronic mail to any person who has requested the information and provided a valid electronic mail address.

Legislative History

Added by renumbering Section 17550.42 (as added by Stats. 2003, Ch. 196, Sec. 11) by Stats. 2015, Ch. 303, Sec. 17. (AB 731) Effective January 1, 2016.