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§ 2088.3. Real Property as Collateral.


Barclays Official California Code of Regulations Currentness
Title 10. Investment
Chapter 5. Insurance Commissioner
Subchapter 1. Production of Insurance
Article 2. Bail Transactions
Subarticle 4. Conduct of Bail Licensees
10 CCR § 2088.3
§ 2088.3. Real Property as Collateral.
If a bail licensee receives as collateral in a bail transaction, whether in his own or on another's behalf, any document which conveys title to real property, such document shall state on its face that it is executed as part of a security transaction. If such document is recorded, a reconveyance of such property executed in such a manner that it may be recorded shall be delivered by the responsible bail licensee or surety insurer to the person executing the original conveyance or to his heirs, legal representative or successor in interest immediately upon such responsible party learning of the satisfaction of the obligation secured; and it is the duty of such responsible party to determine promptly whether such obligation has been discharged upon request for return of the collateral by the person entitled thereto.
Note: Authority cited: Section 1812, Insurance Code. Reference: Sections 1800, 1800.75, 1800.8, 1801, 1802, 1802.1, 1802.2, 1802.5, 1802.6, 1802.7, 1802.71, 1802.72, 1802.73, 1802.74, 1802.75, 1803, 1804, 1805, 1806, 1807, 1809, 1810, 1812 and 1813, Insurance Code.
1. Change without regulatory effect adding Note filed 7-11-2016 pursuant to section 100, title 1, California Code of Regulations (Register 2016, No. 29).
This database is current through 4/9/21 Register 2021, No. 15
10 CCR § 2088.3, 10 CA ADC § 2088.3
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