California § 22356 - The board may apply to reduce the book value of securities purchased, all or part
Full text of California Public Contract Code - PCC § 22356 — The board may apply to reduce the book value of securities purchased, all or part, with citation guidance and answers to common questions.
§ 22356. The board may apply to reduce the book value of securities purchased, all or part
The board may apply to reduce the book value of securities purchased, all or part of the excess of the proceeds of the sale or redemption prior to maturity of securities over the book value of the securities sold or redeemed provided the purchase of securities is made with those proceeds and provided that the terms of both securities from the date of sale, redemption, or purchase, as the case may be, to the respective dates of maturity, do not differ by more than five years. All applications of excess of sales or redemption proceeds, even with greater difference in terms, made by the board before October 1, 1949, are hereby validated and confirmed.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 22356
What does Public Contract Code - PCC § 22356 cover?
Section 22356 ("The board may apply to reduce the book value of securities purchased, all or part") 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 § 22356?
A common citation format is "Public Contract Code - PCC § 22356" (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 § 22356 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.