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Section 8401 Of Article 1. General Provisions From California Probate Code >> Division 7. >> Part 2. >> Chapter 4. >> Article 1.
8401
. (a) Notwithstanding Section 8400, a petitioner for
appointment as personal representative may deliver property in the
petitioner's possession to a trust company or financial institution
for deposit, or allow a trust company or financial institution to
retain on deposit property already in its possession, as provided in
Chapter 3 (commencing with Section 9700) of Part 5.
(b) The petitioner shall obtain and file with the court a written receipt including the agreement of the trust company or financial institution that the property on deposit, including any earnings thereon, shall not be allowed to be withdrawn except on order of the court.
(c) In receiving and retaining property under this section, the trust company or financial institution is protected to the same extent as though it had received the property from a person who had been appointed personal representative.
(b) The petitioner shall obtain and file with the court a written receipt including the agreement of the trust company or financial institution that the property on deposit, including any earnings thereon, shall not be allowed to be withdrawn except on order of the court.
(c) In receiving and retaining property under this section, the trust company or financial institution is protected to the same extent as though it had received the property from a person who had been appointed personal representative.
