California Unemployment Insurance Code 1501 – The director may in accordance with law deposit for the purpose of …
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The director may in accordance with law deposit for the purpose of clearance by the director all money collected under this division, in a state or national bank in this state. After clearance the money so deposited shall be deposited in the State Treasury to the credit of the proper fund as prescribed in this division.
(Amended by Stats. 1977, Ch. 1252.)
Terms Used In California Unemployment Insurance Code 1501
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC