California Public Utilities Code 3281 – The administrator shall carry out the duties of this part and may do …
The administrator shall carry out the duties of this part and may do all of the following, subject to the oversight of the council:
(a) Retain, employ, or contract with officers, experts, employees, accountants, actuaries, financial professionals, and other executives, advisers, consultants, attorneys, and professionals as may be necessary in the administrator’s judgment for the efficient operation and administration of the fund.
Terms Used In California Public Utilities Code 3281
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Oversight: Committee review of the activities of a Federal agency or program.
(b) Enter into contracts and other obligations relating to the operation, management, and administration of the fund.
(c) Invest the moneys in the fund in those securities eligible under § 16430 of the Government Code.
(d) Review and approve claims and settlements, and provide funds to the participating electrical corporations for the purposes of paying eligible claims.
(e) Buy insurance or take other actions to maximize the claims-paying resources of the fund.
(f) Pay costs, expenses, and other obligations of the fund from Wildfire Fund assets.
(g) Take any actions necessary to collect any amounts owing to the fund from participating electrical corporations.
(h) Undertake such other activities as are related to the operation, management, and administration of the fund, as approved by the council.
(Amended by Stats. 2019, Ch. 396, Sec. 39. (AB 1513) Effective January 1, 2020.)