§ 12655 Return Of Condition Assets

Corporations Code·California

AI SummaryVerified

This law says that if a company is holding something for someone and the time comes to give it back, they have to return it as promised.

Key Takeaways

•If a company is holding something for you, they must give it back when the agreed time comes.
•The company has to follow the exact rules they agreed to when returning your stuff.
•This applies to anything held under a promise to return it later.

Example

You lend your bike to a friend who promises to give it back in a week.

When the week is up, your friend must give you your bike back, just like they promised.

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

Official Source

View on CA.gov

§ 12655 Return Of Condition Assets

After complying with the provisions of Section 12653 assets held by a corporation upon a valid condition requiring return, transfer, or conveyance, which condition has occurred or will occur, shall be returned, transferred, or conveyed in accordance with the condition. (Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.)

Last verified: January 10, 2026

Key Terms

assets valid condition return, transfer, or conveyance Section 12653

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 12655.

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Key Takeaways

Example

Key Terms

Related Statutes

References