Added by Stats. 2025, Ch. 119, Sec. 45. (SB 254) Effective September 19, 2025. Conditionally inoperative pursuant to Section 3298.6. Repealed as of January 1 following inoperative date.
The administrator shall carry out the duties of this part and may do all of the following, subject to the oversight of the council:
(a)Retain, employ, or contract with officers, experts, employees, accountants, actuaries, financial professionals, and other executives, advisers, consultants, attorneys, and professionals as may be necessary in the administrator’s judgment for the efficient operation and administration of the account.
(b)Enter into contracts and other obligations relating to the operation, management, and administration of the account.
(c)Invest the moneys
in the account in those securities eligible under Section 16430 of the Government Code.
(d)Review and approve claims and settlements, and provide funds to large electrical corporations for the purposes of paying eligible claims.
(e)Buy insurance or take other actions to maximize the claims-paying resources of the account.
(f)Pay costs, expenses, and other obligations of the account from account assets.
(g)Take any actions necessary to collect any amounts owing to the account from large electrical corporations.
(h)Undertake other activities related to the operation, management, and administration of the account, as approved by the council.
Cite this section