Any person aggrieved who recovers from the fund shall assign to the Travel Consumer Restitution Corporation all rights of recovery, to a maximum of the amount received from the Travel Consumer Restitution Fund, against any person or organization from which the person aggrieved received any payment as compensation for any loss for which restitution was paid from the Travel Consumer Restitution Fund. The person aggrieved shall execute and deliver to the corporation instruments and papers and perform any other acts necessary to carry out this section. The corporation shall have the authority and discretion to determine whether or not to seek recovery.

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

Terms Used In California Business and Professions Code 17550.48

  • 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.
  • person: includes any individual, partnership, firm, association, or corporation. See California Business and Professions Code 17506
  • Person aggrieved: as used in this article , means a passenger, as defined in Section 17550. See California Business and Professions Code 17550.37
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
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