California Streets and Highways Code 6621 – Whenever a bond is foreclosed pursuant to this chapter, the decree of …
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Whenever a bond is foreclosed pursuant to this chapter, the decree of foreclosure shall direct the clerk of the court to deliver the bond sued upon to the treasurer of the city which issued said bond together with a memorandum setting forth the title and number of the action and the fact that the bond has been foreclosed.
(Amended by Stats. 2002, Ch. 784, Sec. 588. Effective January 1, 2003.)
Terms Used In California Streets and Highways Code 6621
- City: includes "city and county" and "incorporated town. See California Streets and Highways Code 15
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC