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TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 4. FISCAL AFFAIRS 16100-17700›PART 2. STATE FUNDS 16300-16649.95›CHAPTER 4. Bank Deposits 16500-16565›ARTICLE 2. Security for Deposits 16520-16533

§ 16521

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

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.

(Amended by Stats. 1978, Ch. 1016.)

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California Government Code

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