California Financial Code

§ 1638

FIN § 1638 Effective Jan 1, 2012Div. 1.1 · Ch. 17 · Art. 2

Statute text

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.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.