To the extent any moneys are received by an electrical corporation pursuant to Section 80520 in the process of collection, and pending their transfer to the department, those moneys shall be segregated by the electrical corporation on terms and conditions established by the department and shall be held in trust for the department’s exercise of its obligations regarding those moneys until paid over to the department pursuant to the contract or order established pursuant to Section 80520.

(Added by Stats. 2019, Ch. 79, Sec. 22. (AB 1054) Effective July 12, 2019.)

Terms Used In California Water Code 80526

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Electrical corporation: means a large electrical corporation, as defined in §. See California Water Code 80506
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