§ 81930 Bond Call Provisions

• •Some bonds can be paid back early by the people who issued them, but only if they follow certain rules.
• •The rules for paying back early, like how much extra money is needed, are decided by the board who issued the bond.
• •A bond cannot be paid back early unless it says so right on the bond itself.

Imagine you lend money to a friend, and they give you a paper saying they will pay you back in 10 years. But the paper also says they can pay you back earlier if they want, but they have to give you a little extra money.

This law is like that paper. It says that if a bond (which is like a loan to a company or government) can be paid back early, it has to say so on the bond. And if it can be paid back early, the people who borrowed the money have to follow the rules they set, like paying a little extra.