California Statutes
§ 16521. — 16521. (Amended by Stats. 1978, Ch. 1016.)
California·Code GOV Government 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
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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California § 16521. (16521. (Amended by Stats. 1978, Ch. 1016.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1978, Ch. 1016.