§ 1003.3
72 words·~1 min read·
/ca/military-and-veterans-code/1003-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the event of cancellation of any pledged contract or forfeiture or other termination thereof for any cause the department shall, as soon as practicable, enter into a new contract covering the same or similar property and shall substitute the new contract in lieu of the pledged contract so canceled or terminated. The income and receipts of the substituted contract shall be pledged in their entirety to the payment of the debentures.