California Statutes
§ 79167.5. — 79167.5. (Added by Stats. 2017, Ch. 503, Sec. 1.)
California·Code FAC Food and Agricultural Code - FAC·Div. 22. DIVISION 22. MARKETING ADVISORY AND PROMOTIONAL AGENCY LAWS·Part 2. PART 2. MARKETING ADVISORY AND PROMOTIONAL COUNCILS AND COMMISSIONS·Ch. 25.5. CHAPTER 25.5. California Spiny Lobster Commission·Art. 3. ARTICLE 3. The California Spiny Lobster Commission
(a)All moneys received by the commission or an agent of the commission from the assessments levied under this chapter or otherwise received by the commission shall be deposited in accounts that the commission may designate and the secretary shall approve. Commission moneys shall be expended for the purposes of this chapter only and shall be disbursed by order of the commission through an agent or agents as it may designate for that purpose. The agent or agents shall be bonded by a fidelity bond, executed by a surety company authorized to transact business in this state, in favor of the commission, in an amount of not less than thirty thousand dollars ($30,000).
(b)Moneys that exceed the amount necessary for the annual
operations of the commission and a prudent reserve may be invest
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California § 79167.5. (79167.5. (Added by Stats. 2017, Ch. 503, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2017, Ch. 503, Sec. 1. (AB 944) Effective January 1, 2018. Provisions operative or inoperative as prescribed in Sections 79180.5, 79181.5, and 79195 et. seq. Repealed conditionally pursuant to Section 79182.5.