California Vehicle Code 12212 – (a) Within 30 days after the close of the fiscal year or other …
(a) Within 30 days after the close of the fiscal year or other reasonable period established by the board of directors, the recovery corporation shall make publicly available a statement of the following information concerning the most recently concluded fiscal year:
(1) The number of claims and approximate dollar amount of the claims received.
Terms Used In California Vehicle Code 12212
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Person: includes a natural person, firm, copartnership, association, limited liability company, or corporation. See California Vehicle Code 470
(2) The total number of claims and total dollar amount of claims paid.
(3) The approximate number and dollar amount of claims denied or abandoned.
(4) The dollar balance in the recovery fund.
(5) The dollar amount of fees received pursuant to Section 4456.3.
(6) The administrative costs and expenses of the recovery corporation.
(b) The recovery corporation shall make publicly available within 15 days of approval by the board of directors or other reasonable period established by the board of directors, the following information:
(1) The approved minutes of meetings of the board of directors.
(2) The approved estimated annual operational budget projecting the costs of operations and administration for the succeeding fiscal year, excluding the amount to be paid for claims.
(3) The approved bylaws, as amended, of the recovery corporation.
(c) Information may be made publicly available as required by this section by disseminating the information on an Internet Web site or providing the information by electronic mail to a person who has requested the information and provided a valid electronic mail address.
(Added by Stats. 2007, Ch. 437, Sec. 6. Effective January 1, 2008.)