§ 16756 Bond Delivery And Resale

Government Code·California

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Key Takeaways

•If you buy bonds, you usually get the real paper bonds after paying in full.
•Sometimes, you might get a temporary paper instead, which you can swap for the real one later.
•If you don’t pay for the bonds you bought, the state can sell them again to someone else.

Example

You buy a bond from the state but don’t pay for it on time.

The state can sell that bond to someone else because you didn’t pay.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 16756 Bond Delivery And Resale

Upon payment in full, the bonds shall be delivered to the purchaser in definitive form, unless the right to deliver temporary securities has been reserved or the purchaser has waived the right to receive definitive bonds at the time of payment, in either of which events such temporary securities, exchangeable for definitive bonds, may be delivered upon such payment. In case the purchase price is not so paid, the bonds so sold but not paid for shall be resold by the State Treasurer, upon notice, as provided in case of original sale. (Added by Stats. 1953, Ch. 1698.)

Last verified: January 22, 2026

Key Terms

definitive form temporary securities State Treasurer

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 16756.

Key Takeaways

Example

Key Terms

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References

Key Takeaways

Example

Key Terms

Related Statutes

References