§ 76264 Commission Fund Handling Requirements

• •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 (a bond) of at least $25,000 to protect against mistakes or theft.

A local farmers' market collects fees from vendors to pay for park upgrades.

The market's governing board (the commission) must put all the fee money in a bank they choose. They pick a treasurer to manage the money, and that treasurer must have a $25,000 insurance policy to cover any errors or stolen funds.