California Streets and Highways Code 33126 – The authority may designate a bank or trust company as a trustee for …
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The authority may designate a bank or trust company as a trustee for the holders of bonds issued pursuant to this part, and may authorize the trustee to act on behalf of the bondholders, and to exercise and prosecute on their behalf the rights and remedies available to them.
(Added by Stats. 1951, Ch. 463.)
Terms Used In California Streets and Highways Code 33126
- bonds: means revenue bonds issued pursuant to this part. See California Streets and Highways Code 33100
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Trustee: A person or institution holding and administering property in trust.