California § 41016 - The governing board of a school district which has made an investment pursuant to
Full text of California Public Contract Code - PCC § 41016 — The governing board of a school district which has made an investment pursuant to, with citation guidance and answers to common questions.
§ 41016. The governing board of a school district which has made an investment pursuant to
The governing board of a school district which has made an investment pursuant to the authority of Section 41015 may deposit such security for safekeeping with a state or national bank or trust company located within this state or with the Federal Reserve Bank of San Francisco or any branch thereof within the state, or with any Federal Reserve bank or with any state or national bank located in any city designated as a reserve city by the Board of Governors of the Federal Reserve System. The governing board shall take from such bank a receipt for the security so deposited. The county treasurer with whom such funds if uninvested would be deposited shall not be responsible for securities delivered to and receipted for by a bank under the authority of this section until they are withdrawn from the bank by said treasurer.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 41016
What does Public Contract Code - PCC § 41016 cover?
Section 41016 ("The governing board of a school district which has made an investment pursuant to") 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 § 41016?
A common citation format is "Public Contract Code - PCC § 41016" (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 § 41016 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.