California Government Code

§ 63022.5

GOV § 63022.5 Effective Jan 1, 1996Div. 1 · Title 6.7 · Ch. 2 · Art. 1

Statute text

(a)The officers of the bank shall be subject to the Political Reform Act of 1974 (Title 9 (commencing with Section 81000)), the applicable rules and standards of the Municipal Securities Rulemaking Board, and all other applicable provisions of law.

(b)The bank may purchase insurance for its fiduciaries or for itself to cover liability or losses occurring by reason of the act or omission of a fiduciary, if the insurance permits recourse by the insurer against the fiduciary in the case of a breach fiduciary obligation by the fiduciary.

Legislative history

Amended by Stats. 1995, Ch. 863, Sec. 11. Effective January 1, 1996.