Statute · California Financial Code
Cal. Fin. Code § 7001 — Savings Accounts as Legal Investments and as Security; Public Funds
Cal. Fin. Code § 7001
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the savings accounts and accounts made legal investments by this article shall be acceptable deposits.
Citator
Cal. Fin. Code § 7001 — Savings Accounts as Legal Investments and as Security; Public Funds is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the savings accounts and accounts made legal investments by this article shall be acceptable deposits.
(b) Whenever, under the laws of this state or otherwise, a bond is required with security, the bond may be furnished, and the savings accounts and accounts made legal investments by this article in the amount of the bond shall be acceptable as security without other security.