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Legal Resources | Labor Code |  LC  4755  

Cash revolving fund.   

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The State Compensation Insurance Fund may draw from the State Treasury out of the appropriation made for the purposes specified in Section 4751, without at the time presenting vouchers and itemized statements, a sum not to exceed in the aggregate fifty thousand dollars ($50,000), to be used as a cash revolving fund. The revolving fund shall be deposited in such banks and under such conditions as the Department of Finance determines. The Controller shall draw his warrants in favor of the State Compensation Insurance Fund for the amounts so withdrawn and the Treasurer shall pay such warrants.

Expenditures made from the revolving fund in payments on claims for such additional compensation and for adjusting services are exempted from the operation of Section 16003 of the Government Code. Reimbursement of the revolving fund for such expenditures shall be made upon presentation to the

Controller of an abstract or statement of such expenditures. Such abstract or statement shall be in such form as the Controller requires.

(Amended by Stats. 1974, Ch. 1221, Sec. 36.)