In the absence of an express recital on its face that the bond or interim receipt is nonnegotiable, the bond or interim receipt is a negotiable instrument.
Cal. Gov. Code § 54409
Provisions Relating to Bonds
Known as the Revenue Bond Law
The act spans §§ 54300 to 54700 (157 sections).
Added by Stats. 1949, Ch. 81.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.