California · Financial Code
FIN §18520: It shall be the purpose of Guaranty Corporation to guarantee full payment of guaranteed accounts of members, exclusive of special members, up to fifty thousand dollars ($50,000) for each account, subj
What this law says, in plain English
A Guaranty Corporation must guarantee full payment of member accounts up to $50,000 per account, excluding special members.
Read the full statutory text
It shall be the purpose of Guaranty Corporation to guarantee full payment of guaranteed accounts of members, exclusive of special members, up to fifty thousand dollars ($50,000) for each account, subject to the express limitations provided in this chapter.
Verify at the official source: California legislative text
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