California § 504b - Where under the terms of a security agreement, as defined in paragraph (74) of su
Full text of California Public Contract Code - PCC § 504b — Where under the terms of a security agreement, as defined in paragraph (74) of su, with citation guidance and answers to common questions.
§ 504b. Where under the terms of a security agreement, as defined in paragraph (74) of su
Where under the terms of a security agreement, as defined in paragraph (74) of subdivision (a) of Section 9102 of the Commercial Code, the debtor has the right to sell the property covered thereby and is to account to the secured party for, and pay to the secured party the indebtedness secured by the security agreement from, the proceeds of the sale of any of the property, and where the debtor, having sold the property covered by the security agreement and having received the proceeds of the sale, willfully and wrongfully, and with the intent to defraud, fails to pay to the secured party the amounts due under the security agreement, or the proceeds of the sale, whichever is the lesser amount, and appropriates the money to his or her own use, the debtor shall be guilty of embezzlement and shall be punishable as provided in Section 514.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 504b
What does Public Contract Code - PCC § 504b cover?
Section 504b ("Where under the terms of a security agreement, as defined in paragraph (74) of su") 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 § 504b?
A common citation format is "Public Contract Code - PCC § 504b" (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 § 504b 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.