§ 995.760 Payment of amount of liability; order of court; sale of bearer bonds or notes; distribution
§ 995.760. Payment of amount of liability; order of court; sale of bearer bonds or notes; distribution
(a) If the principal does not pay the amount of the liability on the deposit within the time prescribed in Section 995.750, the deposit shall be collected, sold, or otherwise applied to the liability upon order of the court that entered the judgment of liability, made upon five days' notice to the parties.
(b) Bearer bonds or bearer notes without a prevailing market price shall be sold at public auction. Notice of sale shall be served on the principal. Bearer bonds or bearer notes having a prevailing market price may be sold at private sale at a price not lower than the prevailing market price.
(c) The deposit shall be distributed in the following order:
(1) First, to pay the cost of collection, sale, or other application of the deposit.
(2) Second, to pay the judgment of liability of the principal on the deposit.
(3) Third, the remainder, if any, shall be returned to the principal.