California Insurance Code 10089.49 – The state hereby pledges to and agrees with the holders of bonds that …
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The state hereby pledges to and agrees with the holders of bonds that the state will not limit, alter, or restrict the rights hereby vested in the authority to fulfill each pledge of revenues and any other terms of any agreement made with or for the benefit of the holders of bonds or in any way impair the rights or remedies of the holders of bonds.
(Added by Stats. 1995, Ch. 944, Sec. 2. Effective January 1, 1996.)
Terms Used In California Insurance Code 10089.49
- Authority: means the California Earthquake Authority. See California Insurance Code 10089.5
- Bonds: means bonds, notes, commercial paper, variable rate and variable maturity securities, and any other evidence of indebtedness. See California Insurance Code 10089.5
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28