Statute · California Government Code
Cal. Gov't Code § 53658 — Deposit of Funds
Cal. Gov't Code § 53658
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion…
Citator
Cal. Gov't Code § 53658 — Deposit of Funds is in force in the current edition of the Code, and nothing recorded condemns it.
An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion that the amount of its deposits bears to the total amount of deposits secured by the pooled securities.