Section 688 Of Article 4. Liquidation Of An Uninsured Licensee From California Financial Code >> Division 1. >> Chapter 7. >> Article 4.

. On the last day fixed in the notice for the removal of the property or on the date when the property is removed or the box surrendered, any contract between the person owning the property or holding the box and the licensee shall cease and the amount of the unearned prepaid rent or charges, if any, shall become a debt of the licensee to the person.