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DIVISION 9. EXPENDITURE LIMITATIONS 7900-7914›PART 1. GENERAL 36501-36525›CHAPTER 2. Sales and Leases 52201-52203›ARTICLE 2. Deposit of Funds 53630-53686

§ 53655

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

A placement of securities by a depository with an agent of depository pursuant to this article shall have the effect of perfecting a security interest in those securities in the local agencies having deposits in that depository notwithstanding provisions of the Uniform Commercial Code to the contrary and notwithstanding that the agent of depository may be the trust department of the depository.

(Repealed and added by Stats. 1969, Ch. 1483.)

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California Government Code

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