Government Code section 5108

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.

Source: Section 5108, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=GOV§ionNum=5108.­ (updated Jan. 1, 1943; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 5108's source at ca​.gov