DIVISION 1. FINANCIAL INSTITUTIONS 99-819›CHAPTER 7. Liquidation and Conservation 600-710›ARTICLE 4. Liquidation of an Uninsured Licensee 670-692
§ 688
California Financial Code · 2020-11 edition · updated 2026-10-04 · California
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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