California Civil Code

§ 1954.05

CIV § 1954.05 Effective Jan 1, 2017Div. 3 · Title 5 · Part 4 · Ch. 2

Statute text

In any general assignment for the benefit of creditors, as defined in Section 493.010 of the Code of Civil Procedure, the assignee shall have the right to occupy, for a period of up to 90 days after the date of the assignment, any business premises held under a lease by the assignor upon payment when due of the monthly rental reserved in the lease for the period of such occupancy, notwithstanding any provision in the lease, whether heretofore or hereafter entered into, for the termination thereof upon the making of the assignment or the insolvency of the lessee or other condition relating to the financial condition of the lessee. This section shall be construed as establishing the reasonable rental value of the premises recoverable by a landlord upon a holding-over by the tenant upon the termination of a lease under the circumstances specified herein.

Legislative history

Added by renumbering Section 1954.1 by Stats. 2016, Ch. 599, Sec. 2. (AB 551) Effective January 1, 2017.