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HomeFinancial CodeDiv. 7Ch. 7Art. 2§ 18499 Member Account Expense Charges

§ 18499 Member Account Expense Charges

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 18499 Member Account Expense Charges

Key Takeaways

  • •If the group's costs are more than the money made from investments at the end of the year, members have to pay the extra.
  • •Each member pays their share based on how much money they have in their account.
  • •The more money you have in your account, the more you have to pay.

Example

Imagine a club where everyone puts in money to invest. At the end of the year, the club spent more money than it made from investments.

Each member has to pay extra money based on how much they have in their club account. If you have more money in your account, you pay more.

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

Official Source
View on CA.gov

§ 18499 Member Account Expense Charges

Expenses of administration that exceed income from investments at year end shall be charged to members’ accounts. Each member’s account shall be charged ratably based on the account balance for the amount of the excess. (Added by Stats. 1976, Ch. 964.)

Last verified: January 23, 2026

Key Terms

Expenses of administrationincome from investmentsmembers’ accountsratablyaccount balance

Related Statutes

  • § 18498 Investment Income Distribution Rules
  • § 18509 Guaranty Corporation Dissolution
  • § 15001 Credit Union Late Fees
  • § 18490 Thrift Obligation Deficiency Payments
  • § 18491 Thrift Obligation Payment Limits

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18499.
View Official Source