The Controller shall establish special accounts for any state officer or employee requesting salary or wage deductions in order that sufficient funds may be accumulated to the state officer or employee’s credit for the purchase of United States savings bonds or similar United States obligations. Funds so accumulated are trust funds and may be withdrawn from the Treasury upon claims filed by the Controller for the purchase of those obligations, or for refunds.

(Amended by Stats. 2021, Ch. 50, Sec. 75. (AB 378) Effective January 1, 2022.)