Statute · California Government Code
Cal. Gov't Code § 5753 — California Savings Bond Program
Cal. Gov't Code § 5753
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1993-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In arranging the sale of bonds, the Treasurer may impose the following requirements on any financial institution that sells the bonds to the public:
Citator
Cal. Gov't Code § 5753 — California Savings Bond Program is in force in the current edition of the Code, and nothing recorded condemns it.
In arranging the sale of bonds, the Treasurer may impose the following requirements on any financial institution that sells the bonds to the public:
(a) California residents planning to use the tax-exempt income for college expenses shall have first priority for purchase of the bonds and all other California residents shall be given second priority for purchase of the bonds.
(b) The broker or institution marketing the bonds may not establish a minimum order size.
(c) As long as the demand by individual investors is greater than the supply of bonds, the bonds shall not be sold to institutional investors.