California § 720.250. 720.250. (Added by Stats. 1982, Ch. 1364, Sec. 2.)

California Statutes

§ 720.250. — 720.250. (Added by Stats. 1982, Ch. 1364, Sec. 2.)

California·Code CCP Code of Civil Procedure - CCP·Div. 4.·Title 9.·Part 2. DIVISION 4. THIRD-PARTY CLAIMS AND RELATED PROCEDURES·Ch. 3. CHAPTER 3. Third-Party Claim of Security Interest or Lien

(a)Except as otherwise provided by statute, if a third-party claim is timely filed, the levying officer may not do any of the following with respect to the personal property in which the security interest or lien is claimed:

(1)Sell the property.

(2)Deliver possession of the property to the creditor.

(3)Pay proceeds of collection to the creditor.

(b)The interest of a secured party or lienholder in the property levied upon is not affected by the failure of the secured party or lienholder to file a third-party claim under this chapter.

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(a)
Except as otherwise provided by statute, if a third-party claim is timely filed, the levying officer may not do any of the following with respect to the personal property in which the security interest or lien is claimed:
(1)
Sell the property.
(2)
Deliver possession of the property to the creditor.
(3)
Pay proceeds of collection to the creditor.
(b)
The interest of a
secured party or lienholder in the property levied upon is not affected by the failure of the secured party or lienholder to file a third-party claim under this chapter.

California § 720.250. (720.250. (Added by Stats. 1982, Ch. 1364, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.