California § 16521 - To be eligible to receive and retain demand or time deposits, a bank shall deposi
Full text of California Public Contract Code - PCC § 16521 — To be eligible to receive and retain demand or time deposits, a bank shall deposi, with citation guidance and answers to common questions.
§ 16521. To be eligible to receive and retain demand or time deposits, a bank shall deposi
To be eligible to receive and retain demand or time deposits, a bank shall deposit with the Treasurer as security for such deposits, securities specified in Section 16522, and approved by the Treasurer, in an amount in value at least 10 percent in excess of the amount deposited with the bank. Uncollected funds shall be excluded from the amount deposited in a demand account with a bank when determining the security requirements for such deposits.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16521
What does Public Contract Code - PCC § 16521 cover?
Section 16521 ("To be eligible to receive and retain demand or time deposits, a bank shall deposi") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 16521?
A common citation format is "Public Contract Code - PCC § 16521" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 16521 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.