Statute · California Financial Code
Cal. Fin. Code § 17321.1 — Membership Fee and Assessments
Cal. Fin. Code § 17321.1
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1988-09-28
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Fidelity Corporation shall levy a special assessment against its members whenever:
Citator
Cal. Fin. Code § 17321.1 — Membership Fee and Assessments is in force in the current edition of the Code, and nothing recorded condemns it.
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.