(a) If any assessment is not paid within 60 days of the due date, then the corporation shall notify the office of the Attorney General, which shall forthwith suspend the registration of the participant who has not paid. The corporation shall provide a copy of this notification to the participant.

(b) The Travel Consumer Restitution Corporation or any entity set forth in Section 17204 may bring an action at law or in equity against a participant to recover any unpaid assessment.

Terms Used In California Business and Professions Code 17550.45

  • 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.
  • Participant: as used in this article , means a seller of travel, as defined in Section 17550. See California Business and Professions Code 17550.36
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15

(c) The Travel Consumer Restitution Corporation shall be awarded costs and reasonable attorney’s fees if it prevails in any action against a participant pursuant to subdivision (b). Those costs and attorney’s fees shall be awarded as an item of costs, as provided for in paragraph (10) of subdivision (a) and paragraph (5) of subdivision (c) of Section 1033.5 of the Code of Civil Procedure.

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

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