Statute · California Government Code
Cal. Gov't Code § 13470 — State School Funds
Cal. Gov't Code § 13470
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Whenever there is in the treasury to the credit of the Unclaimed Property Fund the sum of twenty thousand dollars ($20,000) or more, the Director of Finance shall invest all but ten thousand dollars ($10,000) in the bonds specified in this article. No investment shall be made which will reduce…
Citator
Cal. Gov't Code § 13470 — State School Funds is in force in the current edition of the Code, and nothing recorded condemns it.
Whenever there is in the treasury to the credit of the Unclaimed Property Fund the sum of twenty thousand dollars ($20,000) or more, the Director of Finance shall invest all but ten thousand dollars ($10,000) in the bonds specified in this article. No investment shall be made which will reduce the uninvested portion of the fund below the amount of ten thousand dollars ($10,000), and whenever a demand presented against the fund will reduce the amount of cash therein below ten thousand dollars ($10,000), the director shall sell such bonds belonging to the fund as he deems proper, so as to restore the cash retention of ten thousand dollars ($10,000).