Financial Code section 1577

The money and securities deposited pursuant to this article shall be subject to sale and the same or the proceeds thereof shall be subject to disposal by the State Treasurer only on the order of a court of competent jurisdiction and for the benefit respectively of the beneficiaries of that class of trust business for the security and protection of which the securities were deposited.

Source: Section 1577, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=1577.­ (updated Jan. 1, 2012; accessed Jun. 9, 2025).

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Verified:
Jun. 9, 2025

§ 1577’s source at ca​.gov