California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 14 — Of Miscellaneous Provisions, Chapter 2 — Bonds and Undertakings, Article 9 — Objections to Bonds, Section 995.940
If a ground for the objection is that the value of property or an interest in property on which the amount of the bond is based exceeds the value estimated in the bond:
(a) The objection shall state the beneficiary’s estimate of the market value of the property or interest in property.
(b) The principal may accept the beneficiary’s estimate of the market value of the property or interest in property and immediately file an increased bond based on the estimate. In such case, no hearing shall be held on that ground for the objection, and the beneficiary is bound by the estimate of the market value of the property or interest in property.
Notes
Requires a beneficiary objecting that bond value underestimates property to state the beneficiary’s market-value estimate. Allows the principal to accept that estimate and immediately file an increased bond based on it; if so, bars a hearing on that objection ground and binds the beneficiary to the accepted estimate.
Use as reference
Lexinter.net | California Code, Code of Civil Procedure - CCP § 995.940 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-14/chapter-2/article-9/section-995-940