Cal. Financial Code § 17321.1

California · California Financial Code · Status: effective · Effective 1988-09-28

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Citation: Cal. Financial Code § 17321.1, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/814848
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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.