California Code of Civil Procedure 996.450 – No provision in a bond is valid that attempts by contract to shorten …
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No provision in a bond is valid that attempts by contract to shorten the period prescribed by Section 337 or other statute for the commencement of an action on the bond or the period prescribed by Section 996.440 for a motion to enforce a bond. This section does not apply if the principal, beneficiary, and surety accept a provision for a shorter period in a bond.
(Added by Stats. 1982, Ch. 998, Sec. 1.)
Terms Used In California Code of Civil Procedure 996.450
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Statute: A law passed by a legislature.