California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 2. GOVERNMENT OF THE STATE OF CALIFORNIA |
Division 3. EXECUTIVE DEPARTMENT |
Part 2. CONSTITUTIONAL OFFICERS |
Chapter 4. Treasurer |
ARTICLE 1. General |
Section 12305.
Latest version.
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The Treasurer may contract for and secure insurance against the loss of any securities and money in his custody from any insurable risk whatsoever.
The amount of insurance obtained shall not exceed the daily average amount of cash and securities respectively, in the custody of the Treasurer in the preceding year.
(Added by Stats. 1945, Ch. 111.)