CA AB1505

Authorizes the California Earthquake Authority's governing board and advisory panel to hold closed sessions when discussing rates, reinsurance, and strategy if open discussion would prejudice the CEA's position.

Requires a two-thirds vote of members present to convene a closed session, with prior opportunity for public comment on the appropriateness of closing the meeting.

Mandates the board or advisory panel reconvene in open session before adjournment to report that a closed session was held, the general nature of matters considered, and whether any action was taken.

Requires reasonable public notice via email or website if a closed session exceeds two hours before reconvening in open session.

Makes legislative findings that this limitation on public meeting access is necessary to protect the CEA's competitive position in rate development and strategy discussions.