(a) Participants shall maintain a corporation under the Nonprofit Mutual Benefit Corporation Law (Part 3 (commencing with Section 7110) of Division 2 of Title 1 of the Corporations Code) operating under the name “Travel Consumer Restitution Corporation.”

(b) The State of California and any of its officers, agents, or employees shall not be liable in any manner for any act or omission of Travel Consumer Restitution Corporation, its directors, officers, agents, or employees.

Terms Used In California Business and Professions Code 17550.39

  • 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.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21

(Added by Stats. 1994, Ch. 1123, Sec. 3. Effective January 1, 1995.)

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