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2020 California Code
Financial Code - FIN
DIVISION 1 - FINANCIAL INSTITUTIONS
CHAPTER 7 - Liquidation and Conservation
ARTICLE 4 - Liquidation of an Uninsured Licensee
Section 688.
Universal Citation: CA Fin Code § 688 (2020)
688.
On the last day fixed in the notice for the removal of the property or on the date when the property is removed or the box surrendered, any contract between the person owning the property or holding the box and the licensee shall cease and the amount of the unearned prepaid rent or charges, if any, shall become a debt of the licensee to the person.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
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