CA Gov't Code Section 53658

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.

Source: Section 53658, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=53658..

Last Updated

Aug. 19, 2023

§ 53658’s source at ca.gov

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Location: https://california.public.law/codes/ca_gov't_code_section_53658

Original Source: Section 53658, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=53658. (last accessed Aug. 19, 2023).