California Government Code

§ 53927

GOV § 53927Div. 2 · Title 5 · Part 1 · Ch. 4 · Art. 12

Statute text

After satisfaction of the amount specified in Section 53926, the proceeds shall be distributed as follows:

(a)An amount of the proceeds up to but no greater than the amount required, at the time of sale by the agency, to redeem the property from the sale shall be distributed as follows:

(1)A pro rata share shall be distributed to each assessment fund in an amount bearing the same proportion as the assessment due each fund bears to the total amount of taxes and assessments necessary to redeem the property at the time of sale by the agency.

…

Legislative history

Added by Stats. 1977, Ch. 648.