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California Law (Last Updated: March 4, 2014) |
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Financial Code - FIN |
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Division 1.1. BANKING |
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Chapter 16. Trust Companies |
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ARTICLE 3. Deposits with State Treasurer |
Section 1572.
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Security deposited with the Treasurer by trust companies pursuant to Section 1570 or 1571 shall consist of the following:
(a) Bonds or other interest-bearing notes or obligations of the United States or those for which the faith and credit of the United States are pledged for the payment of principal and interest.
(b) Bonds of the State of California or those for which the faith and credit of the State of California are pledged for the payment of principal and interest or in registered warrants of the State of California.
(c) Obligations and securities of the type described in subdivisions (a) to (g), inclusive, of Section 1510.
(d) Obligations and assets of the type described in subdivisions (a) to (c), inclusive, of Section 1511.
(e) Loans secured by a first lien on real property and otherwise complying with the provisions of subdivision (a) of Section 1486.
(f) Obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the International Finance Corporation, or the African Development Bank.