§ 53658
66 words·~1 min read·
/ca/government-code/53658A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion that the amount of its deposits bears to the total amount of deposits secured by the pooled securities.