ARTICLE 3. Custody of Securities

Article 3 added by Stats. 1945, Ch. 120.

§§ 16550–16554 · 5 sections

• § 16550 As used in this article, “qualified trust company” means the trust department of any State or National bank in this State or a trust company authorized to act…
• § 16551 With the consent of the bank owning securities deposited or to be deposited with him or her as security, the Treasurer may: (a) Authorize any qualified trust…
• § 16552 The Treasurer shall take from the qualified trust company or from any federal reserve bank or any branch thereof a receipt for any securities received by it…
• § 16553 Any qualified trust company or any federal reserve bank or any branch thereof to which securities are delivered, either as agent or depositary for the…
• § 16554 The charges of any qualified trust company or of any federal reserve bank or any branch thereof for the handling and safekeeping of such securities are not a…