California Business and Professions Code

§ 19617.4

BPC § 19617.4Div. 8 · Ch. 4 · Art. 9.5

Statute text

(a)The official registering agency shall invest the funds deposited with it, and the interest earned on those deposits shall be a part of the total deposits distributable under subdivisions (b) and (c) of Section 19617.2.

(b)In the event there are insufficient funds to make the distributions described in Section 19617.2, there shall be no additional assessments made against any association or the state to fund the deficiencies.

(c)Any award or premium remaining uncollected for two consecutive years from that date of disbursement shall be deemed null and void. The official registering agency shall deposit the amount of the uncollected award or premium into the breeder fund existing at that time.

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Legislative history

Added by Stats. 1989, Ch. 1019, Sec. 9.