Statute · California Government Code
Cal. Gov't Code § 53601.5 — Investment of Surplus
Cal. Gov't Code § 53601.5
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2002-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.1, not purchased directly from the issuer, shall be purchased either from an institution licensed by the state as a broker-dealer, as defined in Section 25004 of the Corporations Code, or from a member…
Citator
Cal. Gov't Code § 53601.5 — Investment of Surplus is in force in the current edition of the Code, and nothing recorded condemns it.
The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.1, not purchased directly from the issuer, shall be purchased either from an institution licensed by the state as a broker-dealer, as defined in Section 25004 of the Corporations Code, or from a member of a federally regulated securities exchange, from a national or state-chartered bank, from a savings association or federal association (as defined by Section 5102 of the Financial Code) or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank.