SECTIONS 4560-4563 - California Statutes

FAMILY.CODE

SECTION 4560-4563

4560. (a) Except as provided in subdivision (b) or in Article 3
(commencing with Section 4565), every order or judgment to pay child
support may also require the payment by the child support obligor of
up to one year's child support or such lesser amount as is equal to
the child support amount due to be paid by the child support obligor
between the time of the date of the order and the date when the
support obligation will be terminated by operation of law. This
amount shall be known as the "child support security deposit."
(b) Unless expressly waived by the child support obligee, the
court may order the establishment of a child support trust account
pursuant to this chapter in every proceeding in which a child support
obligation is imposed by order of the court. Among other reasons,
the court may decline to establish a child support trust account upon
its finding that an adequately funded child support trust account
already exists pursuant to this chapter for the benefit of the child
or children involved in the proceeding or that the child support
obligor has provided adequate alternative security which is
equivalent to the child support security deposit otherwise required
by this chapter.

4561. If a child support security deposit is ordered, the court
shall order that the moneys be deposited by the child support obligor
in an interest-bearing account with a state or federally chartered
commercial bank, a trust company authorized to transact trust
business in this state, or a savings and loan association, or in
shares of a federally insured credit union doing business in this
state and having a trust department, subject to withdrawal only upon
authorization of the court. The moneys so deposited shall be used
exclusively to guarantee the monthly payment of child support.

4562. The court shall also order that evidence of the deposit shall
be provided by the child support obligor in the form specified by
the court, which shall be served upon the child support obligee and
filed with the court within a reasonable time specified by the court,
not to exceed 30 days.

4563. An account established pursuant to this chapter shall be
dissolved and any remaining funds in the account shall be returned to
the support obligor, with any interest earned thereon, upon the full
payment and cessation of the child support obligation as provided by
court order or operation of law.