California Code of Civil Procedure

§ 995.720

CCP § 995.720 Effective Jan 1, 2015Title 14 · Part 2 · Ch. 2 · Art. 7

Statute text

(a)The market value of bonds or notes, including bearer bonds and bearer notes, shall be agreed upon by stipulation of the principal and beneficiary or, if the bonds or notes are given in an action or proceeding and the principal and beneficiary are unable to agree, the market value shall be determined by court order in the manner prescribed in this section. A certified copy of the stipulation or court order shall be delivered to the officer at the time of the deposit of the bonds or notes.

(b)If the bonds or notes are given in an action or proceeding, the principal may file a written application with the court to determine the market value of the bonds or notes. The application shall be served upon the beneficiary and proof of service shall be filed with the application. The application shall contain all of the following:

(1)A specific description of the bonds or notes.

…

Legislative history

Amended by Stats. 2014, Ch. 305, Sec. 2. (AB 1856) Effective January 1, 2015.