California § 489.3. 489.3. (Amended by Stats. 1979, Ch. 583.)

California Statutes

§ 489.3. — 489.3. (Amended by Stats. 1979, Ch. 583.)

California § 489.3.

JurisdictionCalifornia

Code MVCMilitary and Veterans Code - MVC

Div. 2.DIVISION 2. THE MILITARY FORCES OF THE STATE

Part 1.PART 1. THE STATE MILITIA

Ch. 10.CHAPTER 10. California National Guard Members’ Revenue Bond Act of 1978

Art. 7.ARTICLE 7. Remedies of Revenue Bondholders

This text of California § 489.3. (489.3. (Amended by Stats. 1979, Ch. 583.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Military and Veterans Code - MVC Code § 489.3. (2026).

Text

Whenever a bank or trust company is acting as trustee by reason of any default, or for the protection of the interests of the revenue bondholders, the bank or trust company as such trustee shall take such action as the holders or registered owners of 25 percent in principal amount of all the revenue bonds then outstanding shall request in writing; provided, that the bank or trust company as such trustee may request reasonable security before taking any action so requested.

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Whenever a bank or trust company is acting as trustee by reason of any default, or for the protection of the interests of the revenue bondholders, the bank or trust company as such trustee shall take such action as the holders or registered owners of 25 percent in principal amount of all the revenue bonds then outstanding shall request in writing; provided, that the bank or trust company as such trustee may request reasonable security before taking any action so requested.