California Public Resources Code

§ 5784.9

PRC § 5784.9 Effective Jan 1, 2002Div. 5 · Ch. 4 · Art. 5

Statute text

(a)Notwithstanding Section 5784.7, a district may establish an alternative depositary pursuant to this section.

(b)The board of directors may adopt a resolution to designate a bank or a savings and loan association as the depositary of any or all of its funds. The board of directors and the board of supervisors of the principal county shall determine a mutually acceptable date for the transfer of the district’s funds to that depositary, not to exceed 15 months from the date on which the board of directors adopted its resolution.

(c)If the board of directors does not designate that depositary for all of its funds, the board of directors shall designate what funds are to be deposited in that depositary. The county treasurer shall be the depositary for all funds not so designated.

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Legislative history

Repealed and added by Stats. 2001, Ch. 15, Sec. 4. Effective January 1, 2002.