(a) If the university determines at any time that the moneys in the fund are insufficient to establish or sustain the program, the university may terminate the program.
(b) If the fund does not receive five hundred thousand dollars ($500,000) or more by January 1, 2021, or, if at any time, the program administrator determines that the 20-percent limit on administrative costs set forth in subparagraph (B) of paragraph (6) of subdivision (b) of Section 101991 is inadequate to support the cost of administering the program authorized pursuant to this part, the program administrator may elect to dissolve the program.
(c) All moneys in the fund remaining after expenses are paid shall, prior to dissolution, be allocated to one or more organizations described in subdivision (a) of Section 101994.5.
(Amended by Stats. 2017, Ch. 561, Sec. 127. (AB 1516) Effective January 1, 2018.)
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