§ 4401. Declaration of policy. (a) It is declared to be the policy of
the state that employee welfare funds are of great benefit to employees
and their families and that their growth should be encouraged; that the
establishment and management of such funds vitally affect the well-being
of millions of people and are in the public interest.

(b) It is further declared that such funds should be supervised by the
state to the extent necessary to protect the rights of employees and
their families, without imposing burdens on the funds which might
discourage their orderly growth and without duplicating the supervisory
responsibilities of any state agency.