California Codes, Business and Professions Code - BPC, Division 3 — Professions and Vocations Generally, Chapter 9 — Contractors, Article 8 — Revenue, Section 7138.1
Notwithstanding Section 7137, the board shall fix fees to be collected pursuant to that section in order to generate revenues sufficient to maintain the board’s reserve fund at a level not to exceed approximately 12 months of annual authorized board expenditures.
Notes
Requires the board, notwithstanding the referenced fee provision, to set the fees collected under that provision at levels generating sufficient revenue to maintain the board’s reserve fund. Limits the targeted reserve level to approximately 12 months of the board’s annual authorized expenditures.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 7138.1 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-9/article-8/section-7138-1