Statute · California Government Code
Cal. Gov't Code § 53637 — Deposit of Funds
Cal. Gov't Code § 53637
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1999-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The money shall be deposited in any bank, savings association or federal association, state or federal credit union, or federally insured industrial loan company with the objective of realizing maximum return, consistent with prudent financial management, except that money shall not be deposited…
Citator
Cal. Gov't Code § 53637 — Deposit of Funds is in force in the current edition of the Code, and nothing recorded condemns it.
The money shall be deposited in any bank, savings association or federal association, state or federal credit union, or federally insured industrial loan company with the objective of realizing maximum return, consistent with prudent financial management, except that money shall not be deposited in any state or federal credit union if a member of the legislative body of a local agency, or any person with investment decisionmaking authority of the administrative office, manager’s office, budget office, auditor-controller’s office, or treasurer’s office of the local agency, also serves on the board of directors, or any committee appointed by the board of directors, or the credit committee or supervisory committee, of the state or federal credit union.