California Government Code 16705 – Before the Treasurer may issue a new instrument or pay the …
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Before the Treasurer may issue a new instrument or pay the indebtedness represented by a lost or destroyed instrument, the owner shall give security in (a) double the amount of the lost or destroyed bearer instrument, or (b) equal to the face amount of the lost or destroyed registered instrument, to indemnify the state against loss or damage that may be incurred on account of the lost or destroyed instrument. The security may be specified by, is subject to the approval of, and, after approval is endorsed thereon, shall be filed with, the Treasurer.
(Amended by Stats. 1992, Ch. 509, Sec. 9. Effective January 1, 1993.)
Terms Used In California Government Code 16705
- instrument: means bonds, coupons, and other evidences of State indebtedness, except warrants. See California Government Code 16700
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18