California Statutes
§ 17321.1. — 17321.1. (Added by Stats. 1988, Ch. 1458, Sec. 15.)
California·Code FIN Financial Code - FIN·Div. 6. DIVISION 6. ESCROW AGENTS·Ch. 2.5. CHAPTER 2.5. Escrow Agents’ Fidelity Corporation·Art. 3. ARTICLE 3. Membership Fee and Assessments
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.
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California § 17321.1. (17321.1. (Added by Stats. 1988, Ch. 1458, Sec. 15.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1988, Ch. 1458, Sec. 15. Effective September 28, 1988.