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HomeFood and Agricultural CodeDiv. 18Ch. 4Art. 3§ 52886 Board Assessment Fund Handling

§ 52886 Board Assessment Fund Handling

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

§ 52886 Board Assessment Fund Handling

Key Takeaways

  • •Money collected from special fees must go into a bank chosen by the board.
  • •The board decides who can take money out and how it’s spent.
  • •The person handling the money must be insured to make sure they don’t steal or mess up.

Example

A neighborhood collects extra money from homeowners to fix the local park.

The neighborhood board picks a bank to keep the money safe. They also choose a trusted person to pay for park repairs. That person must have insurance so if they take the money and run, the neighborhood gets it back.

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

Official Source
View on CA.gov

§ 52886 Board Assessment Fund Handling

Upon board action, all moneys received by any person from the assessments levied under the authority of Article 9.5 (commencing with Section 52951) of this chapter shall be deposited in banks designated by the board and shall be disbursed by order of the board through the agent or agents it designates for that purpose. Any designated agent shall be bonded by a fidelity bond, executed by a surety company authorized to transact business in California, in favor of the board, conditioned upon the faithful performance of the agent’s duties and the strict accounting of all funds of the board, in the amount determined by the board. (Amended by Stats. 2008, Ch. 189, Sec. 13. Effective January 1, 2009. Conditionally inoperative on January 1, 2014, as prescribed in Section 52991.)

Last verified: January 23, 2026

Key Terms

assessmentsagentfidelity bondperformanceinsuranceauthority

Related Statutes

  • § 66583 Commission Fund Handling Requirements
  • § 67061 Assessment Money Handling
  • § 76066 Commission Fund Handling Requirements
  • § 77267 Commission Fund Handling Requirements
  • § 77766 Commission Fund Handling Requirements

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Food and Agricultural Code. Section 52886.
View Official Source