Cal. GOV § 5108
This is the official text of Cal. GOV § 5108, part of California’s Government Code — covers the structure and operation of state and local government, including public employment and public records.
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Official statutory text
If the guarantors function in the capacity of trustee or if the custody of the bonds is in the possession of a trustee, and administered by the trustee, he shall be required to distribute interest and principal, in the proportion that each is received by him, to the beneficiaries under the trust.
Status: in_force · Read it on the official government site
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