The Treasurer may contract for and secure insurance against the loss of securities and money in the Treasurer’s custody from any insurable risk whatsoever.

The amount of insurance obtained shall not exceed the daily average amount of cash and securities respectively, in the custody of the Treasurer in the preceding year.

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Terms Used In California Government Code 12305

  • Contract: A legal written agreement that becomes binding when signed.

(Amended by Stats. 2021, Ch. 50, Sec. 61. (AB 378) Effective January 1, 2022.)

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