California § 16500. 16500. (Amended by Stats. 2000, Ch. 1036, Sec. 1.)

California Statutes

§ 16500. — 16500. (Amended by Stats. 2000, Ch. 1036, Sec. 1.)

California § 16500.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.4.

Title 2.DIVISION 4. FISCAL AFFAIRS

Part 2.PART 2. STATE FUNDS

Ch. 4.CHAPTER 4. Bank Deposits

Art. 1.ARTICLE 1. General

This text of California § 16500. (16500. (Amended by Stats. 2000, Ch. 1036, Sec. 1.)) 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. Government Code - GOV Code § 16500. (2026).

Text

As used in this chapter, “eligible bank” means a state or national bank located in this state, selected by the Treasurer for the safekeeping of money belonging to or in the custody of the state, that has received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of the bank’s record of meeting the credit needs of the state’s communities, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code.  An eligible bank is eligible to receive deposits only to the extent that it furnishes the security required by this chapter.

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As used in this chapter, “eligible bank” means a state or national bank located in this state, selected by the Treasurer for the safekeeping of money belonging to or in the custody of the state, that has received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of the bank’s record of meeting the credit needs of the state’s communities, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code. An eligible bank is eligible to receive deposits only to the extent that it furnishes the security required by this chapter.