California Probate Code

§ 8483

PROB § 8483Div. 7 · Part 2 · Ch. 4 · Art. 5

Statute text

(a)This section applies where property in the estate has been deposited pursuant to Chapter 3 (commencing with Section 9700) of Part 5 on condition that the property, including any earnings thereon, will not be withdrawn except on authorization of the court.

(b)In a proceeding to determine the amount of the bond of the personal representative (whether at the time of appointment or subsequently), on production of a receipt showing the deposit of property of the estate in the manner described in subdivision (a), the court may order that the property shall not be withdrawn except on authorization of the court and may, in its discretion, do either of the following:

(1)Exclude the property in determining the amount of the required bond or reduce the amount of the bond to an amount the court determines is reasonable.

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Legislative history

Enacted by Stats. 1990, Ch. 79.