California Government Code 53431 – When a bond of a local agency is mutilated or defaced the legislative …
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When a bond of a local agency is mutilated or defaced the legislative body shall issue a duplicate if all of the following conditions exist:
(a) It appears by clear and unequivocal proof that the bond is so mutilated or defaced as to impair its value to the owner.
Terms Used In California Government Code 53431
- Bond: includes warrant or other evidence of indebtedness. See California Government Code 53430
- Local agency: means county, city, irrigation district, reclamation district, school district, or other municipal corporation. See California Government Code 53430
(b) There is no bad faith on the part of the owner.
(c) The bond is identifiable by number and description.
(d) The regulations, including restrictions as to time and retention for security or otherwise, prescribed by the legislative body are met.
(Added by Stats. 1949, Ch. 81.)