SECTIONS 16429 - California Statutes

GOVERNMENT CODE

SECTION 16429

16429. (a) The Condemnation Deposits Fund in the State Treasury is
continued in existence. The fund consists of all money deposited in
the State Treasury pursuant to Title 7 (commencing with Section
1230.010) of Part 3 of the Code of Civil Procedure and all interest
earned or other increment derived from its investment. The Treasurer
shall receive all such moneys, duly receipt for, and safely keep the
same in the fund, and for that duty he or she is liable upon his or
her official bond.
(b) Money in the Condemnation Deposits Fund shall be invested
under the provisions of Article 4 (commencing with Section 16470) of
Chapter 3.
(c) The Controller shall apportion at the conclusion of each
calendar quarter, the interest earned or increment derived and
deposited in the fund during the three calendar months ending with
those dates. There shall be apportioned and paid to each plaintiff
having a deposit in the fund during the three-month period for which
an apportionment is made an amount directly proportionate to the
total deposits in the fund and the length of time the deposits
remained therein, except that no payment shall be made of any
interest in the amount of five dollars ($5) or less. These amounts
shall be transferred to the General Fund by the Controller. The
Treasurer shall pay out the money deposited by a plaintiff in the
manner and at the times the court or a judge thereof may, by order or
decree, direct. Any residual amount after all required payments have
been made shall be paid to the plaintiff if that amount is more than
five dollars ($5). If the amount is five dollars ($5) or less, it
shall be transferred to the General Fund by the Controller.