There is a newer version of the California Code
2011 California Code
Government Code
TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA [8000 - 22980]
ARTICLE 2. Security for Deposits
Section 16528
CA Govt Code § 16528 (through 2012 Leg Sess) What's This?
The bond of an admitted surety insurer shall not be accepted as security for demand or time deposits unless it has been certified by the Insurance Commissioner as meeting the requirements of this chapter and unless it also holds a certificate of authority from the United States Treasury Department under which it is eligible as surety on federal bonds.
(Amended by Stats. 1977, Ch. 582.)
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