DIVISION 9. EXPENDITURE LIMITATIONS 7900-7914›PART 14. Tribal Housing Grant Program Fund Advisory Committee 15990-15990.3›CHAPTER 1.5 Budget Acts 16343-16344 — Section 16344›ARTICLE 2. Security for Deposits 16520-16533

§ 16523

California Government Code · 2026-09 edition · updated 2026-09-27 · California

If it appears to him necessary for the security of the State, the Treasurer shall require as a condition of eligibility that a bank furnish an indemnity bond approved by the Treasurer, conditioned against loss by any depreciation in value that may occur in securities deposited as security for the safekeeping and prompt payment of deposits. The sureties shall not be stockholders of the principal.

(Amended by Stats. 1957, Ch. 1542.)

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California Government Code

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