Cal. Civ. Proc. Code § 995.740
Deposit in Lieu of Bond
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2015
As of January 1, 2011
If no proceedings are pending to enforce the liability of the principal on the deposit, the officer shall:
If no proceedings are pending to enforce the liability of the principal on the deposit, the officer shall:
(a) Pay quarterly, on demand, any interest on the deposit, when earned in accordance with the terms of the account or certificate, to the principal.
(a) Pay quarterly, on demand, any interest on the deposit, when earned in accordance with the terms of the account or certificate, to the principal.
(b) Deliver to the principal, on demand, any interest coupons attached to bearer bonds or bearer notes as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.
(b) Deliver to the principal, on demand, any interest coupons attached to bonds or notes, including bearer bonds and bearer notes, as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.