California Business and Professions Code

§ 17550.15

BPC § 17550.15 Effective Jan 1, 2016Div. 7 · Part 3 · Ch. 1 · Art. 2.6

Statute text

(a)This section applies to a seller of travel as defined in Section 17550.1.

(b)The seller of travel shall deposit directly into a trust account in a federally insured bank, savings and loan association, or credit union 100 percent of all sums received from any person or entity, including, but not limited to, those payments made in cash, by credit card, or any other method of payment, for air or sea transportation for any person, or for any travel services offered by the seller of travel, and any refunds made by carriers or providers of travel services. This subdivision does not require that a seller of travel establish a separate trust account for each transaction.

(c)The seller of travel shall not in any manner encumber the corpus of the trust account and shall not withdraw money therefrom except as follows:

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Legislative history

Amended by Stats. 2015, Ch. 253, Sec. 1. (AB 1107) Effective January 1, 2016.