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impound |
Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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impound v. 1) to collect funds, in addition to installment payments, from a person who owes a debt secured by property, and place them in a special account to pay property taxes and insurance when due. This protects the lender or seller from the borrower's possible failure to keep up the insurance or a mounting tax bill which is a lien on the property. 2) to take away records, money or property, such as an automobile or building, by government action pending the outcome of a criminal prosecution. The records may be essential evidence, or the money or property may be forfeit to the state as in illegal drug cases. (See: forfeit, forfeiture) |
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When Schwarzenegger last year vetoed the predecessor to Soto's bill, AB 1132, by Assemblyman Alberto Torrico, D-Fremont, he said the impounding authority was an effective law enforcement tool to prevent unlicensed driving and prevent owners from loaning their vehicles to unlicensed drivers. He isn't shy about letting his staff know it's in their best interest to keep impounding cars and other valuables. ``We're impounding cars of those drivers whose licenses have been suspended or revoked or have never had a license,'' Arnold said. |
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impounding
