The local agency may:

(a) Provide for the powers, duties, functions, and compensation of the fiscal agent.

Terms Used In California Government Code 54551

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(b) Limit the liabilities of the fiscal agent.

(c) Prescribe a method for his resignation and removal, and the merger or consolidation of fiscal agents.

(d) Prescribe a method for the appointment of a successor fiscal agent and the transfer of rights and properties to the successor.

(Added by Stats. 1949, Ch. 81.)