Section 77940 Of Article 3. The California Cut Flower Commission From California Food And Agricultural Code >> Division 22. >> Part 2. >> Chapter 20. >> Article 3.
77940
. (a) All funds received by any person from the assessments
levied under the authority of this chapter or otherwise received by
the commission shall be deposited in banks that the commission may
designate and shall be disbursed by order of the commission through
an agent or agents designated by the commission for that purpose. The
agent or agents shall be bonded by a fidelity bond, executed by a
surety company authorized to transact business in this state, in
favor of the commission, in an amount of not less than twenty-five
thousand dollars ($25,000).
(b) The commission may maintain a separate bank account in order
to create a permanent research fund. The account shall be named the
Kee Kitayama Memorial Research Foundation Account.