California § 1781.8 - Deposits held in escrow shall be placed in an interest bearing account or investe
Full text of California Public Contract Code - PCC § 1781.8 — Deposits held in escrow shall be placed in an interest bearing account or investe, with citation guidance and answers to common questions.
§ 1781.8. Deposits held in escrow shall be placed in an interest bearing account or investe
(a) Deposits held in escrow shall be placed in an interest bearing account or invested as provided under subdivision (e) of Section 1781. (b) Interest, income, and other gains derived from deposits held in a deposit escrow account may not be released or distributed from the deposit escrow account except upon written approval of the department. (c) Approval by the department for the release of earnings generated from funds held in escrow shall be based upon an assessment that funds remaining in the deposit escrow account will be sufficient to pay refunds and any interest promised to all depositors, as well as administrative costs owed to the escrow agent. (d) When released by the department, interest earned by the funds in the deposit escrow account shall be distributed in accordance with the terms of the deposit agreement.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1781.8
What does Public Contract Code - PCC § 1781.8 cover?
Section 1781.8 ("Deposits held in escrow shall be placed in an interest bearing account or investe") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1781.8?
A common citation format is "Public Contract Code - PCC § 1781.8" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1781.8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.