California Law (Last Updated: March 4, 2014) |
Financial Code - FIN |
Division 1. FINANCIAL INSTITUTIONS |
Chapter 3. Department of Business Oversight |
ARTICLE 4. Administration of the Department |
Section 377.
Latest version.
-
Notwithstanding any other provision of this code, whenever any provision of this division requires the pledge of securities to be deposited with the Treasurer, to insure the performance of any act or duty, the securities after first being approved by the commissioner and upon the written order of the commissioner, shall be deposited with the Treasurer. The Treasurer, with the consent of the owner of the securities deposited or to be deposited with the Treasurer, may place the securities in the custody of a qualified trust company or bank in the same manner and under the same conditions provided in Article 3 (commencing with Section 16550) of Chapter 4 of Part 2 of Division 4 of Title 2 of the Government Code.
(Added by Stats. 2011, Ch. 243, Sec. 2. Effective January 1, 2012.)