Section 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.