California § 11822 - The rates fixed by the board of directors shall be that percentage of the payroll

Full text of California Public Contract Code - PCC § 11822 — The rates fixed by the board of directors shall be that percentage of the payroll, with citation guidance and answers to common questions.

§ 11822. The rates fixed by the board of directors shall be that percentage of the payroll

The rates fixed by the board of directors shall be that percentage of the payroll of any employer which, in the long run and on the average, will produce a sufficient sum, when invested in a way as to realize the maximum return consistent with safe and prudent management practices: (a) To carry all claims to maturity. The rates shall be based upon the “reserve” and not upon the “assessment” plan. (b) To meet the reasonable expenses of conducting the business of the fund. (c) To produce a reasonable surplus to cover the catastrophe hazard.

Source: official California text · Last verified 2026-08-27

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Frequently Asked Questions About California § 11822

What does Public Contract Code - PCC § 11822 cover?

Section 11822 ("The rates fixed by the board of directors shall be that percentage of the payroll") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite California § 11822?

A common citation format is "Public Contract Code - PCC § 11822" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of California law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.

How does California § 11822 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in California.