California Business and Professions Code

§ 17550.43

BPC § 17550.43 Effective Jan 1, 2025Div. 7 · Part 3 · Ch. 1 · Art. 2.7

Statute text

(a)The Travel Consumer Restitution Corporation shall establish and maintain an operations fund for the payment of costs of operations and administration. The corporation shall prepare, before its fiscal year end, an estimated annual operational budget projecting the costs of operations and administration for the succeeding fiscal year, excluding the amount paid for claims.

(b)(1) All participants making their initial payment of assessments shall pay to the Travel Consumer Restitution Corporation an initial, one-time seventy-five dollar ($75) assessment per location from which the participant does business in the state in order to provide additional funding for the operations of the corporation, as those operations are authorized by the corporation’s board of directors.

(2)All participants making their initial payment of assessments shall pay to the Travel Consumer Restitution Corporation an initial, one-time two hundred dollar ($200) assessment per location from which the participant does business in this state in order to provide additional funding for the restitution fund.

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Legislative history

Amended by Stats. 2024, Ch. 853, Sec. 8. (AB 3281) Effective January 1, 2025.