California Government Code ARTICLE 2 - Security for Deposits

• Section 16610.
  Security shall not be required for that portion of any deposit that is insured under any law of the United States.(Added by Stats. 1976, Ch.
• Section 16611.
  To be eligible to receive and retain deposits, a savings and loan association and credit union shall deposit with the Treasurer as security for deposits,...
• Section 16612.
  The following securities may be received as security for deposits:(a) Bonds, notes, or other obligations of the United States, or those for which the faith and...
• Section 16613.
  If it appears to him or her necessary for the security of the state, the Treasurer shall require as a condition of eligibility that a...
• Section 16614.
  In lieu of deposits of securities, any otherwise eligible savings and loan association or credit union may deposit with the Treasurer bonds of admitted surety...
• Section 16615.
  An admitted surety insurer is not eligible as surety for deposits in any one savings and loan association or credit union in amounts in excess...
• Section 16616.
  On demand of the Treasurer, the Insurance Commissioner shall issue a certificate showing the qualifications of any admitted surety insurer as surety for deposits.(Added by...
• Section 16617.
  The bond of an admitted surety insurer shall not be accepted as security for deposits unless it has been certified by the Insurance Commissioner as...
• Section 16618.
  The form of bonds required under this chapter shall be prescribed by the Attorney General.(Added by Stats. 1976, Ch. 349.)
• Section 16619.
  A surety upon any bond to secure deposits may terminate the bond as to future liability by giving 10 days’ written notice of termination to...
• Section 16620.
  That portion of any security for deposit that is in excess of the requirements of this article may be withdrawn or released on the written...
• Section 16621.
  If any savings and loan association or credit union fails to pay all or any part of deposits on demand of the Treasurer, pursuant to...
• Section 16622.
  If at any time the security deposited with the Treasurer is not deemed satisfactory by the Treasurer, he may require such additional security as is...

Last modified: October 22, 2018