California § 16521. 16521. (Amended by Stats. 1978, Ch. 1016.)

California Statutes

§ 16521. — 16521. (Amended by Stats. 1978, Ch. 1016.)

California § 16521.

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. 2.ARTICLE 2. Security for Deposits

This text of California § 16521. (16521. (Amended by Stats. 1978, Ch. 1016.)) 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 § 16521. (2026).

Text

To be eligible to receive and retain demand or time deposits, a bank shall deposit with the Treasurer as security for such deposits, securities specified in Section 16522, and approved by the Treasurer, in an amount in value at least 10 percent in excess of the amount deposited with the bank. Uncollected funds shall be excluded from the amount deposited in a demand account with a bank when determining the security requirements for such deposits.

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To be eligible to receive and retain demand or time deposits, a bank shall deposit with the Treasurer as security for such deposits, securities specified in Section 16522, and approved by the Treasurer, in an amount in value at least 10 percent in excess of the amount deposited with the bank. Uncollected funds shall be excluded from the amount deposited in a demand account with a bank when determining the security requirements for such deposits.

Legislative History

Amended by Stats. 1978, Ch. 1016.

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Bluebook (online)

California § 16521., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/GOV/16521..