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Section 17321.1 Of Article 3. Membership Fee And Assessments From California Financial Code >> Division 6. >> Chapter 2.5. >> Article 3.
17321.1
. 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.
(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.
