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California Law (Last Updated: March 4, 2014) |
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Probate Code - PROB |
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Division 7. ADMINISTRATION OF ESTATES OF DECEDENTS |
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Part 5. ESTATE MANAGEMENT |
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Chapter 18. Sales |
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ARTICLE 4. Special Provisions Applicable to Particular Types of Property |
Section 10201.
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(a) For purposes of this section:
(1) "Federal association" is defined in Section 5102 of the Financial Code.
(2) "Mutual capital certificate" is defined in Section 5111 of the Financial Code.
(3) "Savings account" is defined in Section 5116 of the Financial Code.
(4) "Savings association" is defined in Section 5102 of the Financial Code.
(5) "Withdrawal value" is defined in Section 5124 of the Financial Code.
(b) Notwithstanding Section 10200, savings accounts and mutual capital certificates of a savings association or federal association may be sold or surrendered for withdrawal by the personal representative, and title thereto passed, without notice of sale, prior order of court, or subsequent confirmation by the court, if an amount of money is obtained upon the sale or withdrawal not less than the withdrawal value of the savings account or the value of the mutual capital certificate.
(c) Notwithstanding Section 10200, credit union share accounts and certificates for funds may be sold or withdrawn by the personal representative, and title thereto passed, without notice of sale, prior order of court, or subsequent confirmation by the court, if an amount of money is obtained upon the sale or withdrawal not less than the withdrawal value of the share account or the value of the certificate for funds.