Statute · California Government Code
Cal. Gov't Code § 16501 — General
Cal. Gov't Code § 16501
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2001-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Under the conditions as the Treasurer with the approval of the Director of Finance may establish, the Treasurer may deposit money in banks outside this state when the banks are fiscal agents of the state or custodians of securities owned by the state, if the banks have an overall rating of not…
Citator
Cal. Gov't Code § 16501 — General is in force in the current edition of the Code, and nothing recorded condemns it.
Under the conditions as the Treasurer with the approval of the Director of Finance may establish, the Treasurer may deposit money in banks outside this state when the banks are fiscal agents of the state or custodians of securities owned by the state, if the banks have an overall rating of not less than “satisfactory” in their most recent evaluation by the appropriate federal financial supervisory agency of the banks’ record of meeting the credit needs of the communities in which the bank is located, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code.