California Financial Code 1638 – From the proceeds of any sale the bank shall deduct the amount set …
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From the proceeds of any sale the bank shall deduct the amount set forth in such notice and any further charges which may have accrued since the mailing of the notice and shall record the balance of the proceeds, if any, on its books as a liability payable to the person in whose name the safe-deposit box was rented.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
Terms Used In California Financial Code 1638
- Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18