Common use of Funds and Accounts Clause in Contracts

Funds and Accounts. The Auditor of PRISM shall establish and maintain such funds and accounts as may be required by good accounting practices and by the Board of Directors. Separate accounts shall be established and maintained for each insurance program under development or adopted and implemented by PRISM. Books and records of PRISM in the hands of the Auditor shall be open to inspection at all reasonable times by authorized representatives of members. PRISM shall adhere to the standard of strict accountability for funds set forth in Government Code Section 6505.

Funds and Accounts. The Auditor of PRISM PRISMthe Authority shall establish and maintain such funds and accounts as may be required by good accounting practices and by the Board of Directors. Separate accounts shall be established and maintained for each insurance program under development or adopted and implemented by PRISMPRISMthe Authority. Books and records of PRISM PRISMthe Authority in the hands of the Auditor shall be open to inspection at all reasonable times by authorized representatives of members. PRISM PRISMThe Authority shall adhere to the standard of strict accountability for funds set forth in Government Code Section 6505.