Skip to content
ChatProjectCodes

DIVISION 2. SAVINGS ASSOCIATION LAW 5000-10009›CHAPTER 5. Savings Operations 6600-7154›ARTICLE 10. Savings Accounts as Legal Investments and as Security; Public Funds 7000-7002

§ 7001

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

(a) Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the savings accounts and accounts made legal investments by this article shall be acceptable deposits.

(b) Whenever, under the laws of this state or otherwise, a bond is required with security, the bond may be furnished, and the savings accounts and accounts made legal investments by this article in the amount of the bond shall be acceptable as security without other security.

(Added by Stats. 1983, Ch. 1091, Sec. 2.)

Get a plain-English answer with a citation back to this text.

Ask AI about this code
Export this section
▸Contents — California Financial Code
California Financial Code

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.