California § 53595.45 - Debt instruments issued by a local agency under this article are hereby made secu
Full text of California Public Contract Code - PCC § 53595.45 — Debt instruments issued by a local agency under this article are hereby made secu, with citation guidance and answers to common questions.
§ 53595.45. Debt instruments issued by a local agency under this article are hereby made secu
(a) Debt instruments issued by a local agency under this article are hereby made securities in which all (1) banks, bankers, savings banks, trust companies, and other persons carrying on a banking business, (2) all insurance companies, insurance associations, and other persons carrying on an insurance business, (3) all administrators, executors, guardians, trustees, and other fiduciaries, and (4) all other persons whatsoever who now are or may hereafter be authorized to invest in debt instruments or other obligations of the state, may properly and legally invest any funds, including capital belonging to them or within their control. (b) The debt instruments are hereby made securities which may properly and legally be deposited with, and received by, any state or municipal officers or agency of the state or municipality or political subdivision thereof for any purpose for which the deposit of debt instruments or other obligations of the state is now, or may hereafter be, authorized by law.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53595.45
What does Public Contract Code - PCC § 53595.45 cover?
Section 53595.45 ("Debt instruments issued by a local agency under this article are hereby made secu") 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 § 53595.45?
A common citation format is "Public Contract Code - PCC § 53595.45" (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 § 53595.45 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.