TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 4. FISCAL AFFAIRS 16100-17700›PART 2. STATE FUNDS 16300-16649.95›CHAPTER 4.5. Savings and Loan Association Deposits 16600-16634›ARTICLE 2. Security for Deposits 16610-16622
§ 16621
California Government Code · 2026-09 edition · updated 2026-10-03 · California
If any savings and loan association or credit union fails to pay all or any part of deposits on demand of the Treasurer, pursuant to the terms and conditions of the contract relating to the deposit that is to be withdrawn in whole or in part, the Treasurer shall forthwith recover upon or convert the security therefor into money and disburse it according to law.
(Amended by Stats. 1987, Ch. 1035, Sec. 13.)
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