Prob. Code, § 10537 · Article 3. Powers the Exercise of Which Requires Giving of Notice of Proposed Action Under Some Circumstances
Prob. Code, § 10537
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The personal representative has the power to sell personal property of the estate or to exchange personal property of the estate for other property upon such terms and conditions as the personal representative may determine. Except as provided in subdivision (b), the personal representative shall comply with the requirements of Chapter 4 (commencing with Section 10580) in exercising this power.
(b) The personal representative may exercise the power granted by subdivision (a) without giving notice of proposed action under Chapter 4 (commencing with Section 10580) in case of the sale or exchange of any of the following:
(1) A security sold on an established stock or bond exchange.
(2) A security designated as a national market system security on an interdealer quotation system, or subsystem thereof, by the National Association of Securities Dealers, Inc., sold through a broker-dealer registered under the Securities Exchange Act of 1934 during the regular course of business of the broker-dealer.
(3) Personal property referred to in Section 10202 or 10259 when sold for cash.
(4) A security described in Section 10200 surrendered for redemption or conversion.
Notes and commentary — not statutory text
History
Enacted by Stats. 1990, Ch. 79.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PROB§ionNum=10537.
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- sha256 96e85474f7c52f93fac9426ac00ea54cc062708c3351462a9c9535d815f6b18c
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- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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