California § 53658 - An agent of a depository may hold and pool securities to secure deposits for one
Full text of California Public Contract Code - PCC § 53658 — An agent of a depository may hold and pool securities to secure deposits for one, with citation guidance and answers to common questions.
§ 53658. An agent of a depository may hold and pool securities to secure deposits for one
An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository. Each local agency shall have an undivided security interest in the pooled securities in the proportion that the amount of its deposits bears to the total amount of deposits secured by the pooled securities.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53658
What does Public Contract Code - PCC § 53658 cover?
Section 53658 ("An agent of a depository may hold and pool securities to secure deposits for one") 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 § 53658?
A common citation format is "Public Contract Code - PCC § 53658" (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 § 53658 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.