California Code of Civil Procedure 995.130 – (a) “Beneficiary” means the person for whose benefit a bond is …
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(a) “Beneficiary” means the person for whose benefit a bond is given, whether executed to, in favor of, in the name of, or payable to the person as an obligee.
(b) If a bond is given for the benefit of the State of California or the people of the state, “beneficiary” means the court, officer, or other person required to determine the sufficiency of the sureties or to approve the bond.
Terms Used In California Code of Civil Procedure 995.130
- Person: includes a corporation as well as a natural person. See California Code of Civil Procedure 17
- State: includes the District of Columbia and the territories when applied to the different parts of the United States, and the words "United States" may include the district and territories. See California Code of Civil Procedure 17
- Statute: A law passed by a legislature.
(c) For the purpose of application of this chapter to a bond given pursuant to any statute of this state, the terms “beneficiary,” “obligee,” and comparable terms used in the statute mean “beneficiary” as defined in this section.
(Added by Stats. 1982, Ch. 998, Sec. 1.)