California Code of Regulations
Title 16 - Professional and Vocational Regulations
Division 22 - State Board of Guide Dogs for the Blind
Article 2 - Licenses
Section 2268.3 - Expenditure of Funds
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
(a) Except as provided in subsection (b), no funds raised during the license period or extension thereof shall be expended for any purpose.
(b) A licensee may expend funds raised during the license period or extension thereof to pay the cost of fund raising and the cost of obtaining an option to buy or lease land for a school site; provided, however, that such costs shall not exceed twenty percent (20%) of the funds raised during the license period or extension thereof.
(c) In the event a licensee fails to raise at least $20,000 or fails to apply for a school license from the board, all funds raised shall be distributed as follows:
1. Renumbering of Section 2269.3 to Section 2268.3 filed 12-12-80; effective thirtieth day thereafter (Register 80, No. 50).
Note: Authority cited: Sections 7208 and 7210.6, Business and Professions Code. Reference: Section 7210.6, Business and Professions Code.