California Public Utilities Code

§ 28818

PUC § 28818 Effective Jan 1, 2025Div. 10 · Part 2 · Ch. 3 · Art. 5

Statute text

(a)With the consent of the general manager, who shall seek consent from the board when deemed necessary, the chief financial officer may:

(1)Authorize any state or national bank in this state, a federally chartered or state chartered savings and loan association, or a trust company authorized to act as such in this state, to receive as the agent of the chief financial officer deposits of any securities acquired by the district.

(2)Place and maintain for safekeeping with any state or national bank in this state, a federally chartered or state chartered savings and loan association, or a trust company authorized to act as such in this state, any securities owned by the district.

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Legislative history

Amended by Stats. 2024, Ch. 106, Sec. 4. (AB 2325) Effective January 1, 2025.