The contract may be terminated by the governing body of a contracting department by resolution or by any other means permitted by law. All liability of the department with respect to its volunteer members of the award system shall cease. All moneys deposited in the fund shall be held for the continued payment of previously granted awards and the costs of administration.
(Repealed and added by Stats. 2007, Ch. 651, Sec. 2. Effective January 1, 2008. Operative March 1, 2008, by Section 50979.)
Terms Used In California Government Code 50972
- Award: means monthly payments for life derived from contributions by a department. See California Government Code 50952
- Contract: A legal written agreement that becomes binding when signed.
- Department: means any of the following:
California Government Code 50952
- Fund: means an account or trust described in Internal Revenue Service Revenue Procedure 92-64, which is maintained by the custodian of the fund. See California Government Code 50952
- Volunteer: means a person registered as a volunteer member of a regularly organized fire department as defined in subdivision (k). See California Government Code 50952