Statute · California Military and Veterans Code
Cal. Mil. & Vet. Code § 489.3 — Remedies of Revenue Bondholders
Cal. Mil. & Vet. Code § 489.3
- Type
- Statute
- Source
- California Military and Veterans Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Whenever a bank or trust company is acting as trustee by reason of any default, or for the protection of the interests of the revenue bondholders, the bank or trust company as such trustee shall take such action as the holders or registered owners of 25 percent in principal amount of all the…
Citator
Cal. Mil. & Vet. Code § 489.3 — Remedies of Revenue Bondholders is in force in the current edition of the Code, and nothing recorded condemns it.
Whenever a bank or trust company is acting as trustee by reason of any default, or for the protection of the interests of the revenue bondholders, the bank or trust company as such trustee shall take such action as the holders or registered owners of 25 percent in principal amount of all the revenue bonds then outstanding shall request in writing; provided, that the bank or trust company as such trustee may request reasonable security before taking any action so requested.