California Code of Regulations
Title 2 - Administration
Division 7 - Secretary of State
Chapter 12 - Victims of Corporate Fraud Compensation Fund
Section 22506 - Review and Final Decision on Application
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) In considering and investigating an application, the Secretary of State may use all appropriate means of investigation and discovery available under Article 2 (commencing with Section 11180) of Chapter 2 of Part 1 of Division 3 of Title 2 of the Government Code.
(b) The claimant's acceptance of an award or compromise offer must be in writing and must be received by the Secretary of State within the time prescribed. Acceptance shall also require the claimant's execution of the documents necessary for the issuance of payment on the award including, but not limited to, an assignment pursuant to Corporations Code section 2293 and any forms required by the Controller for payment (e.g. STD 204 Payee Data Record).
(c) Discussions or negotiations regarding the terms of an offer to compromise within 60 calendar days of the offer shall not be deemed a refusal to accept the settlement. Failure to accept the offer within 60 calendar days or an express written refusal to accept the offer within 60 calendar days of the offer shall constitute a refusal to accept a settlement resulting in the denial of the application pursuant to Corporations Code section 2284.
1. New section filed 3-9-2004; operative 3-9-2004 pursuant to Government Code section 11343.4 (Register 2004, No. 11).
2. Renumbering of former section 22506 to section 22505 and renumbering of former section 22508 to section 22506, including amendment of section heading, section and NOTE, filed 1-2-2013; operative 1-2-2013 pursuant to Government Code section 11343.4 (Register 2013, No. 1).
Note: Authority cited: Section 2280, Corporations Code. Reference: Section 2284, Corporations Code.
