California Statutes
§ 13470. — 13470. (Amended by Stats. 1951, Ch. 1708.)
California·Code GOV Government Code - GOV·Div. 3.·Title 2. DIVISION 3. EXECUTIVE DEPARTMENT·Part 3. PART 3. DEPARTMENT OF FINANCE·Ch. 6. CHAPTER 6. Purchase and Sale of Bonds·Art. 2. ARTICLE 2. State School Funds
Whenever there is in the treasury to the credit of the Unclaimed Property Fund the sum of twenty thousand dollars ($20,000) or more, the Director of Finance shall invest all but ten thousand dollars ($10,000) in the bonds specified in this article. No investment shall be made which will reduce the uninvested portion of the fund below the amount of ten thousand dollars ($10,000), and whenever a demand presented against the fund will reduce the amount of cash therein below ten thousand dollars ($10,000), the director shall sell such bonds belonging to the fund as he deems proper, so as to restore the cash retention of ten thousand dollars ($10,000).
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California § 13470. (13470. (Amended by Stats. 1951, Ch. 1708.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1951, Ch. 1708.