§ 16611
59 words·~1 min read·
/ca/government-code/16611A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
To be eligible to receive and retain deposits, a savings and loan association and credit union shall deposit with the Treasurer as security for deposits, securities specified in Section 16612, and approved by the Treasurer, in an amount in value at least 10 percent in excess of the amount deposited with the savings and loan association or credit union.