California CodesBusiness and Professions Code - BPCDivision 3 — Professions and Vocations GenerallyChapter 5 — Law LibrariesArticle 2 — Law Library FundsSection 6326

A revolving fund of not more than fifty thousand dollars ($50,000) may be established from money in the law library fund, by resolution of the board of law library trustees, for expenditures of not exceeding ten thousand dollars ($10,000) each for purposes for which the law library fund may lawfully be expended. The board shall prescribe the procedure by which money may be drawn from the revolving fund, the records to be kept, and the manner in which reimbursements shall be made to the revolving fund by demand and order from the law library fund. All or any part of the money in the revolving fund may be deposited in a commercial account in a bank, subject to payments of not exceeding ten thousand dollars ($10,000) each by check on the signature of the secretary or any other person or persons designated by the board.

Notes

Allows law-library trustees to create a revolving fund of up to $50,000 from law-library funds for lawful expenditures of no more than $10,000 each. Requires the board to set withdrawal, recordkeeping, and reimbursement procedures and allows bank deposit of revolving funds, with checks of no more than $10,000 signed by the secretary or other designated persons.

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Lexinter.net | California Code, Business and Professions Code - BPC § 6326 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-5/article-2/section-6326

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