Section 1005.4 Of Article 6. Remedies Of Debenture Holders From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 6.
1005.4
. Whenever a bank or trust company is acting as trustee by
reason of any default, or for the protection of the interests of the
debenture holders, the bank or trust company as such trustee, shall
take such action as the holders or registered owners of 20 percent in
principal amount of all the debentures then outstanding shall
request in writing, provided that the bank or trust company as such
trustee may request reasonable security before taking any action so
requested.