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HomeFood and Agricultural CodeDiv. 22Pt. 2Ch. 12.5Art. 3§ 74575 Commission Fund Handling Requirements

§ 74575 Commission Fund Handling Requirements

Food and Agricultural Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 74575 Commission Fund Handling Requirements

Key Takeaways

  • •Money collected from fees or other sources must be put in a bank chosen by the commission.
  • •The commission decides how and when to spend this money, using a person or group they pick.
  • •The person or group handling the money must have insurance (called a 'fidelity bond') worth at least $25,000 to protect the money.

Example

A local group collects fees from farmers to help sell their crops. The group puts the money in a bank and picks a person to manage it.

The group must make sure the person managing the money has insurance worth at least $25,000. This protects the money if something goes wrong, like the person stealing it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 74575 Commission Fund Handling Requirements

All funds received from the assessments levied pursuant to this chapter or otherwise received by the commission shall be deposited in banks which the commission may designate and shall be disbursed by order of the commission through an agent or agents as it may designate. The agent or agents shall be bonded by a fidelity bond, executed by a surety company authorized to transact business in this state, in favor of the commission, in an amount of not less than twenty-five thousand dollars ($25,000). (Added by Stats. 1986, Ch. 1287, Sec. 3.)

Last verified: January 23, 2026

Key Terms

fidelity bondinsurancecommissionfraud

Related Statutes

  • § 76066 Commission Fund Handling Requirements
  • § 67061 Assessment Money Handling
  • § 74077 Commission Fund Handling Requirements
  • § 74876 Commission Fund Handling Requirements
  • § 77267 Commission Fund Handling Requirements

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Food and Agricultural Code. Section 74575.
View Official Source