California § 16523 - If it appears to him necessary for the security of the State, the Treasurer shall
Full text of California Public Contract Code - PCC § 16523 — If it appears to him necessary for the security of the State, the Treasurer shall, with citation guidance and answers to common questions.
§ 16523. If it appears to him necessary for the security of the State, the Treasurer shall
If it appears to him necessary for the security of the State, the Treasurer shall require as a condition of eligibility that a bank furnish an indemnity bond approved by the Treasurer, conditioned against loss by any depreciation in value that may occur in securities deposited as security for the safekeeping and prompt payment of deposits. The sureties shall not be stockholders of the principal.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16523
What does Public Contract Code - PCC § 16523 cover?
Section 16523 ("If it appears to him necessary for the security of the State, the Treasurer shall") 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 § 16523?
A common citation format is "Public Contract Code - PCC § 16523" (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 § 16523 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.