Upon the removal by federal law of the conflicting federal law or rule the agreement between the treasurer or other authorized official and a depository may be terminated by either party.

(Added by Stats. 1986, Ch. 1132, Sec. 11.)

Terms Used In California Government Code 53648.5

  • Depository: means a state or national bank, savings association or federal association, a state or federal credit union, or a federally insured industrial loan company, in this state in which the moneys of a local agency are deposited. See California Government Code 53630
  • Treasurer: means treasurer of the local agency. See California Government Code 53630
  Previous section
Next section  
 Article 2 Contents