Section 989.4 Of Article 3.8. Disaster Indemnity From California Military And Veterans Code >> Division 4. >> Chapter 6. >> Article 3.8.
989.4
. The department shall maintain an Indemnity Fund, which is
hereby created in the State Treasury, for the purpose of indemnifying
eligible purchasers, for any of the following:
(a) The cost of repairing structural damage in excess of five
hundred dollars ($500) caused by flood, including floods by surface
water, waves, tidal water, tidal wave, overflow of streams or other
bodies of water, spray from any of the foregoing, whether wind driven
or not, and water that backs up through sewers or drains.
(b) The cost of repairing structural damage in excess of 5 percent
of the total covered loss or five hundred dollars ($500), whichever
is greater, caused by earthquake, volcanic eruption, landslide, or
mudslide.
(c) Money accruing to the Indemnity Fund is hereby appropriated
for carrying out the purposes of this article.