2020 California Code
Vehicle Code - VEH
DIVISION 5 - OCCUPATIONAL LICENSING AND BUSINESS REGULATIONS
CHAPTER 11 - Consumer Recovery Fund
(a) Within 30 days after the close of the fiscal year or other reasonable period established by the board of directors, the recovery corporation shall make publicly available a statement of the following information concerning the most recently concluded fiscal year:
(1) The number of claims and approximate dollar amount of the claims received.
(2) The total number of claims and total dollar amount of claims paid.
(3) The approximate number and dollar amount of claims denied or abandoned.
(4) The dollar balance in the recovery fund.
(5) The dollar amount of fees received pursuant to Section 4456.3.
(6) The administrative costs and expenses of the recovery corporation.
(b) The recovery corporation shall make publicly available within 15 days of approval by the board of directors or other reasonable period established by the board of directors, the following information:
(1) The approved minutes of meetings of the board of directors.
(2) The approved estimated annual operational budget projecting the costs of operations and administration for the succeeding fiscal year, excluding the amount to be paid for claims.
(3) The approved bylaws, as amended, of the recovery corporation.
(c) Information may be made publicly available as required by this section by disseminating the information on an Internet Web site or providing the information by electronic mail to a person who has requested the information and provided a valid electronic mail address.
(Added by Stats. 2007, Ch. 437, Sec. 6. Effective January 1, 2008.)