Expenses of administration that exceed income from investments at year end shall be charged to members’ accounts. Each member’s account shall be charged ratably based on the account balance for the amount of the excess.
Cal. Fin. Code § 18499
General
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Added by Stats. 1976, Ch. 964.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.