California § 1570. 1570. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California Statutes

§ 1570. — 1570. (Added by Stats. 2011, Ch. 243, Sec. 3.)

California § 1570.

JurisdictionCalifornia

Code FINFinancial Code - FIN

Div. 1.1.DIVISION 1.1. BANKING

Ch. 16.CHAPTER 16. Trust Companies

Art. 3.ARTICLE 3. Deposits with State Treasurer

This text of California § 1570. (1570. (Added by Stats. 2011, Ch. 243, Sec. 3.)) 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. Financial Code - FIN Code § 1570. (2026).

Text

Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1572 as security for its court and private trusts as follows:

(a)If the trust company’s principal place of business is situated in a city the population of which does not exceed 100,000 persons, it shall deposit with the State Treasurer money or securities having a market value of at least fifty thousand dollars ($50,000) as security for the faithful performance and execution of all court trusts accepted by it, and money or securities having a market value of at least fifty thousand dollars ($50,000) as security for the faithful performance and execution of all private trusts accepted by it. Whenever any such trust company receives trust funds or property, other than real

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Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1572 as security for its court and private trusts as follows:
(a)
If the trust company’s principal place of business is situated in a city the population of which does not exceed 100,000 persons, it shall deposit with the State Treasurer money or securities having a market value of at least fifty thousand
dollars ($50,000) as security for the faithful performance and execution of all court trusts accepted by it, and money or securities having a market value of at least fifty thousand dollars ($50,000) as security for the faithful performance and execution of all private trusts accepted by it.
Whenever any such trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of five hundred thousand dollars ($500,000), it shall forthwith give the commissioner written notice thereof, and within 30 days thereafter shall make an additional deposit with the State Treasurer of money or securities having a market value of fifty thousand dollars ($50,000) as security for its court trusts, and money or securities having a market value of fifty thousand dollars ($50,000) as additional security for its private trusts.
(b)
If the trust company’s principal
place of business is situated in a city the population of which exceeds 100,000 persons, it shall deposit with the State Treasurer money or securities having a market value of at least one hundred thousand dollars ($100,000) as security for the faithful performance and execution of all court trusts accepted by it, and money or securities having a market value of at least one hundred thousand dollars ($100,000) as security for the faithful performance and execution of all private trusts accepted by it.

Legislative History

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.

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California § 1570., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/1570..