§ 17321.1
65 words·~1 min read·
/ca/financial-code/17321-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.