California § 995.720 - The market value of bonds or notes, including bearer bonds and bearer notes, shal
Full text of California Public Contract Code - PCC § 995.720 — The market value of bonds or notes, including bearer bonds and bearer notes, shal, with citation guidance and answers to common questions.
§ 995.720. The market value of bonds or notes, including bearer bonds and bearer notes, shal
(a) The market value of bonds or notes, including bearer bonds and bearer notes, shall be agreed upon by stipulation of the principal and beneficiary or, if the bonds or notes are given in an action or proceeding and the principal and beneficiary are unable to agree, the market value shall be determined by court order in the manner prescribed in this section. A certified copy of the stipulation or court order shall be delivered to the officer at the time of the deposit of the bonds or notes. (b) If the bonds or notes are given in an action or proceeding, the principal may file a written application with the court to determine the market value of the bonds or notes. The application shall be served upon the beneficiary and proof of service shall be filed with the application. The application shall contain all of the following: (1) A specific description of the bonds or notes. (2) A statement of the current market value of the bonds or notes as of the date of the filing of the application. (3) A statement of the amount of the bonds or notes that the principal believes would be equal to the required amount of the deposit. (c) The application pursuant to subdivision (b) shall be heard by the court not less than five days or more than 10 days after service of the application. If at the time of the hearing no objection is made to the current market value of the bonds or notes alleged in the application, the court shall fix the amount of the bonds or notes on the basis of the market value alleged in the application. If the beneficiary contends that the current market value of the bonds or notes is less than alleged in the application, the principal shall offer evidence in support of the application, and the beneficiary may offer evidence in opposition. At the conclusion of the hearing, the court shall make an order determining the market value of the bonds or notes and shall fix and determine the amount of the bonds or notes to be deposited by the principal.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 995.720
What does Public Contract Code - PCC § 995.720 cover?
Section 995.720 ("The market value of bonds or notes, including bearer bonds and bearer notes, shal") 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 § 995.720?
A common citation format is "Public Contract Code - PCC § 995.720" (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 § 995.720 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.