California Education Code

§ 76063

EDC § 76063 Effective Jan 1, 1996Div. 7 · Title 3 · Part 47 · Ch. 1 · Art. 4

Statute text

The funds of any student body organization established in the public schools of any community college district shall, subject to approval of the governing board of the district, be deposited or invested in one or more of the following ways:

(a)Deposits in trust accounts of the centralized State Treasury system pursuant to Sections 16305 to 16305.7, inclusive, of the Government Code or in a bank or banks whose accounts are insured by the Federal Deposit Insurance Corporation.

(b)Investment certificates or withdrawable shares in state-chartered savings and loan associations and savings accounts of federal savings and loan associations, if the associations are doing business in this state and have their accounts insured by the Federal Savings and Loan Insurance Corporation and if any money so invested or deposited is invested or deposited in certificates, shares, or accounts fully covered by the insurance.

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Legislative history

Amended by Stats. 1995, Ch. 201, Sec. 1. Effective January 1, 1996.