California Civil Code

§ 1812.117

CIV § 1812.117 Effective Jan 1, 2025Div. 3 · Title 2.6 · Part 4

Statute text

(a)An affiliate discount buying organization may, at its option, and with the express written consent of its parent, comply with the trust account withdrawal provisions set forth in subdivision (b), in lieu of those contained in subdivision (b) of Section 1812.116.

(b)The affiliate shall comply with the trust account provisions of subdivision (b) of Section 1812.116, except that:

(1)As to each buyer, during the first one-fourth or first six months of the buyer’s membership period, whichever is shorter, funds representing no more than one-half of the contract price may be withdrawn from the trust account.

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Legislative history

Amended by Stats. 2024, Ch. 853, Sec. 15. (AB 3281) Effective January 1, 2025.