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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

§ 53658

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

An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion that the amount of its deposits bears to the total amount of deposits secured by the pooled securities.

(Amended by Stats. 1970, Ch. 84.)

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California Government Code

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