Statute · California Code of Civil Procedure
Cal. Civ. Proc. Code § 995.760 — Deposit in Lieu of Bond
Cal. Civ. Proc. Code § 995.760
- Type
- Statute
- Source
- California Code of Civil Procedure
- Jurisdiction
- California
- Date
- 2015-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) If the principal does not pay the amount of the liability on the deposit within the time prescribed in Section 995.750, the deposit shall be collected, sold, or otherwise applied to the liability upon order of the court that entered the judgment of liability, made upon five days’ notice to…
Citator
Cal. Civ. Proc. Code § 995.760 — Deposit in Lieu of Bond is in force in the current edition of the Code, and nothing recorded condemns it.
(a) If the principal does not pay the amount of the liability on the deposit within the time prescribed in Section 995.750, the deposit shall be collected, sold, or otherwise applied to the liability upon order of the court that entered the judgment of liability, made upon five days’ notice to the parties.
(b) Bonds or notes, including bearer bonds and bearer notes, without a prevailing market price shall be sold at public auction. Notice of sale shall be served on the principal. Bonds or notes having a prevailing market price may be sold at private sale at a price not lower than the prevailing market price.
(c) The deposit shall be distributed in the following order:
(1) First, to pay the cost of collection, sale, or other application of the deposit.
(2) Second, to pay the judgment of liability of the principal on the deposit.
(3) Third, the remainder, if any, shall be returned to the principal.