§ 7001
81 words·~1 min read·
/ca/financial-code/7001A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the savings accounts and accounts made legal investments by this article shall be acceptable deposits.
(b)Whenever, under the laws of this state or otherwise, a bond is required with security, the bond may be furnished, and the savings accounts and accounts made legal investments by this article in the amount of the bond shall be acceptable as security without other security.