All money collected with respect to any power acquired and sold pursuant to this division and the Governor’s Emergency Proclamation dated January 17, 2001, and all money paid directly or indirectly to or for the account of the department with respect to any sale, exchange, transfer, or disposition of power acquired pursuant hereto, shall constitute property of the department and shall be deposited in the fund in accordance with subdivision (b) of Section 80200. To the extent any moneys are received by an electrical corporation pursuant to Section 80106 in the process of collection, and pending their transfer to the department, they shall be segregated by the electrical corporation on terms and conditions established by the department and shall be held in trust for the benefit of the department.

(Added by Stats. 2001, 1st Ex. Sess., Ch. 4, Sec. 4. Effective February 1, 2001.)

Terms Used In California Water Code 80112

  • 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.
  • Fund: means the Department of Water Resources Electric Power Fund established by Section 80200. See California Water Code 80010
  • Power: means electric power and energy, including, but not limited to, capacity and output, or any of them. See California Water Code 80010
  • Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Water Code 10
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