California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 1 - Production of Insurance
Article 2 - Bail Transactions
Subarticle 4 - Conduct of Bail Licensees
Section 2088.3 - Real Property as Collateral
If a bail licensee receives as collateral in a bail transaction, whether in the bail licensee's 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 the heirs, legal representative or successor in interest of the person executing the original conveyance 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.
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).
2. Change without regulatory effect
amending section filed 7-14-2021 pursuant to section
100, title 1, California Code of
Regulations (Register 2021, No. 29). Filing deadline specified in Government Code
section
11349.3(a)
extended 60 calendar days pursuant to Executive Order
N-40-20.
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.
