The payment of a debt or liability, whether the whereabouts of the creditor is known
or unknown, has been adequately provided for if the payment has been provided for
by either of the following means:
(a) Payment thereof has been assumed or guaranteed in good faith by one or more financially
responsible corporations or other persons or by the United States government or any
agency thereof, and the provision (including the financial responsibility of such
corporations or other persons) was determined in good faith and with reasonable care
by the board to be adequate at the time of any distribution of the assets by the board
pursuant to this chapter.
(b) The amount of the debt or liability has been deposited as provided in Section 2008.
This section does not prescribe the exclusive means of making adequate provision for
debts and liabilities.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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