California Education Code

§ 41002.5

EDC § 41002.5Div. 3 · Title 2 · Part 24 · Ch. 1 · Art. 1

Statute text

Notwithstanding Sections 41001 and 41002, money received from the sources, or for the purposes listed in subdivisions (a) to (h), inclusive, may be deposited in a bank or other financial institution whose accounts are federally insured. Any money so deposited shall be in an account or accounts fully covered by that insurance:

(a)Funds received for the purpose of making loans, scholarships, or grants to students in, or graduates of, a school under the jurisdiction of the governing board of the district.

(b)Funds received for the sale of food or other services performed by one or more cafeterias established in the schools of the district.

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Legislative history

Amended by Stats. 1991, Ch. 68, Sec. 1.