California Financial Code ARTICLE 3 - Membership Fee and Assessments

• Section 17320.
  Fidelity Corporation shall establish and maintain the following funds for payment of claims and for payment of costs of administration: the membership fund, the operations...
• Section 17321.
  Fidelity Corporation shall bill and collect from each member an annual premium that in the aggregate shall consist of assessments for the operations fund and...
• Section 17321.1.
  Fidelity Corporation shall levy a special assessment against its members whenever:(a) Deemed necessary by the board of directors in the event of any extraordinary expenses which...
• Section 17321.2.
  Fidelity Corporation shall be entitled to collect late fees as specified in Fidelity Corporation’s bylaws for any late payment of assessments under Section 17320, 17321,...
• Section 17322.
  Fidelity Corporation shall report to the commissioner each levy of assessment within 10 business days after the levy.(Repealed and added by Stats. 1988, Ch. 1458,...
• Section 17323.
  (a) In the event any member fails to pay an assessment when due, Fidelity Corporation shall by written demand addressed to the member request the payment...
• Section 17324.
  Any reduction in the membership fund caused by payment of an extraordinary expense pursuant to subdivision (a) of Section 17320 or payment of claims pursuant...

Last modified: October 22, 2018