The department, upon whatever terms and conditions it deems proper, may sell or otherwise dispose of property serving as collateral for a defaulted loan made under Section 76.3 or may operate, contract to operate, or let property involved in the default. All proceeds from any action of the department pursuant to this section shall be deposited in the Harbors and Watercraft Revolving Fund and credited towards the repayment of the defaulted loan.
Cal. Harb. & Nav. Code § 77.1
Recreational Marinas
Known as the California Public Beach Restoration Act
The act spans §§ 50–77 (85 sections).
Added by Stats. 1990, Ch. 1500, Sec. 4.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.