Whenever a reserve fund exceeds one-half of the payment for operating expenses in the preceding fiscal year, the board may appropriate such excess to the general fund.
Cal. Pub. Util. Code § 16603
Receipts, Accounts, and Audits
Known as the The Public Utility District Act
The act spans §§ 15501–18055 (309 sections).
Added by Stats. 1953, Ch. 72.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.