California § 6348.5. 6348.5. (Amended by Stats. 2009, Ch. 332, Sec. 1.14.)

California Statutes

§ 6348.5. — 6348.5. (Amended by Stats. 2009, Ch. 332, Sec. 1.14.)

California § 6348.5.

JurisdictionCalifornia

Code BPCBusiness and Professions Code - BPC

Div. 3.DIVISION 3. PROFESSIONS AND VOCATIONS GENERALLY

Ch. 5.CHAPTER 5. Law Libraries

Art. 3.ARTICLE 3. Duties and Powers of Boards

This text of California § 6348.5. (6348.5. (Amended by Stats. 2009, Ch. 332, Sec. 1.14.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Business and Professions Code - BPC Code § 6348.5. (2026).

Text

A board of law library trustees may invest surplus funds in excess of one hundred thousand dollars ($100,000) or of the average annual expenditures of the library for the four fiscal years immediately preceding the investment, whichever is lesser, in the Local Agency Investment Fund pursuant to Article 11 (commencing with Section 16429.1) of Chapter 2 of Part 2 of Division 4 of Title 2 of the Government Code or bonds of the government of the United States or of this state. Bonds so purchased may be sold at any time in the discretion of the board. In computing average annual expenditures for the purposes of this section, capital expenditures for the purchase of real property and construction of a library building shall not be included.

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A board of law library trustees may invest surplus funds in excess of one hundred thousand dollars ($100,000) or of the average annual expenditures of the library for the four fiscal years immediately preceding the investment, whichever is lesser, in the Local Agency Investment Fund pursuant to Article 11 (commencing with Section 16429.1) of Chapter 2 of Part 2 of Division 4 of Title 2 of the Government Code or bonds of the government of the United States or of this state. Bonds so purchased may be sold at any time in the discretion of the board. In computing average annual expenditures for the purposes of this section, capital expenditures for the purchase of real property and construction of a library building shall not be included.