ARTICLE 3. Deposits with State Treasurer [1570. - 1578.]

Article 3 added by Stats. 2011, Ch. 243, Sec. 3.

§§ 1570–1578 · 9 sections

• § 1570 Every trust company shall deposit with the State Treasurer money or securities of the character described in Section 1572 as security for its court and private…
• § 1571 Whenever any trust company receives trust funds or property, other than real property, from court trusts accepted by it to the amount of one million dollars…
• § 1572 Security deposited with the Treasurer by trust companies pursuant to Section 1570 or 1571 shall consist of the following: (a) Bonds or other interest-bearing…
• § 1573 Such money or securities shall be approved by the commissioner and be deposited with the Treasurer upon the written order of the commissioner. Upon receiving…
• § 1574 Securities deposited pursuant to this article may be exchanged from time to time, with the approval of the commissioner, for other like securities of equal…
• § 1575 Should any security deposited pursuant to this article so depreciate in value as to reduce the deposit below the amount required by this article, additional…
• § 1576 When any revaluation of securities is made by the commissioner pursuant to Section 1575, other than at the time such securities are presented for deposit,…
• § 1577 The money and securities deposited pursuant to this article shall be subject to sale and the same or the proceeds thereof shall be subject to disposal by the…
• § 1578 The commissioner may, pursuant to Section 329, levy a civil penalty against any trust company that fails to comply with this article.