{"code":"PRC","codeName":"Public Resources Code","section":"8621","citation":"Pub. Resources Code, § 8621","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 7. KAPILOFF LAND BANK ACT [8600. - 8633.]","url":"https://blackletter.si/public-resources-code/division-7"},{"name":"CHAPTER 3. Administration [8620. - 8633.]","url":"https://blackletter.si/public-resources-code/division-7/chapter-3"}],"history":"Added by Stats. 1982, Ch. 1471, Sec. 1.","effective":null,"html":"<p>The purchase price shall not exceed the fair market value of the outstanding interests to be acquired. Prior to any such acquisition the trustee shall review the evidence and applicable law and shall determine whether the state may have any right, title, or interest therein and deduct from the economic value of the acquisition the value of any such state interest.</p>","text":"The purchase price shall not exceed the fair market value of the outstanding interests to be acquired. Prior to any such acquisition the trustee shall review the evidence and applicable law and shall determine whether the state may have any right, title, or interest therein and deduct from the economic value of the acquisition the value of any such state interest.","otherVersions":[],"url":"https://blackletter.si/public-resources-code/administration-8621","source":"California Legislative Information bulk export (pubinfo)"}