California Business and Professions Code

§ 18882

BPC § 18882 Effective Jan 1, 2014Div. 8 · Ch. 2 · Art. 16

Statute text

(a)At the time of payment of the fee required by Section 18824, a promoter shall pay to the commission all amounts scheduled for contribution to the pension plan. If the commission, in its discretion, requires pursuant to Section 18881, that contributions to the pension plan be made by the boxer and his or her manager, those contributions shall be made at the time and in the manner prescribed by the commission.

(b)All contributions to finance the pension plan shall be deposited in the State Treasury and credited to the Boxers’ Pension Fund, which is hereby created. Notwithstanding the provisions of Section 13340 of the Government Code, all moneys in the Boxers’ Pension Fund are hereby continuously appropriated to be used exclusively for the purposes and administration of the pension plan.

(c)The Boxers’ Pension Fund is a retirement fund, and no moneys within it shall be deposited or transferred to the General Fund.

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Legislative history

Amended by Stats. 2013, Ch. 370, Sec. 19. (SB 309) Effective January 1, 2014.