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 Treasury, shall make such disposition of the securities as the Treasurer directs and is responsible only for strict compliance with written instructions given to it by the Treasurer. All such securities are at all times subject to the order of the Treasurer.

(Amended by Stats. 2015, Ch. 25, Sec. 25. (SB 84) Effective June 24, 2015.)

Terms Used In California Government Code 16553

  • qualified trust company: means the trust department of any State or National bank in this State or a trust company authorized to act as such in this State. See California Government Code 16550
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