California Financial Code ARTICLE 3 - Deposits with State Treasurer
- Section 1570.
Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1572 as security for its court and...
- Section 1571.
Whenever any trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of one million...
- Section 1572.
Security deposited with the Treasurer by trust companies pursuant to Section 1570 or 1571 shall consist of the following:(a) Bonds or other interest-bearing notes or obligations...
- Section 1573.
Such money or securities shall be approved by the commissioner and be deposited with the Treasurer upon the written order of the commissioner. Upon receiving...
- Section 1574.
Securities deposited pursuant to this article may be exchanged from time to time, with the approval of the commissioner, for other like securities of equal...
- Section 1575.
Should any security deposited pursuant to this article so depreciate in value as to reduce the deposit below the amount required by this article, additional...
- Section 1576.
When any revaluation of securities is made by the commissioner pursuant to Section 1575, other than at the time such securities are presented for deposit,...
- 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...
- Section 1578.
The commissioner may, pursuant to Section 329, levy a civil penalty against any trust company that fails to comply with this article.(Added by Stats. 2011,...
Last modified: October 22, 2018