The charges for the handling and safekeeping of any such securities are not a charge against the treasurer but shall be paid by the depository owning the securities.

(Amended by Stats. 1976, Ch. 349.)

Terms Used In California Government Code 53678

  • 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
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