California Financial Code 410 – As of the operative date of this section:(a) The State Banking …
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As of the operative date of this section:
(a) The State Banking Fund is converted into a separate account in the Financial Institutions Fund and designated as the State Banking Account.
Terms Used In California Financial Code 410
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(b) All moneys and other assets and all liabilities of the State Banking Fund shall be transferred to the State Banking Account.
(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)