California § 53659 - Whenever an agent of depository accepts securities pursuant to Section 53656 it m
Full text of California Public Contract Code - PCC § 53659 — Whenever an agent of depository accepts securities pursuant to Section 53656 it m, with citation guidance and answers to common questions.
§ 53659. Whenever an agent of depository accepts securities pursuant to Section 53656 it m
Whenever an agent of depository accepts securities pursuant to Section 53656 it may, with the authorization of the depository, place such securities for safekeeping with a Federal Reserve Bank or branch thereof or with any bank located in a city designated as a reserve city by the Board of Governors of the Federal Reserve System or with the Federal Home Loan Bank of San Francisco or with a trust company located in this state. Authority for such placement together with the names of the banks or, including the Federal Home Loan Bank of San Francisco, trust companies to be so used, shall be contained in the contract between the treasurer and the depository required in Section 53649.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53659
What does Public Contract Code - PCC § 53659 cover?
Section 53659 ("Whenever an agent of depository accepts securities pursuant to Section 53656 it m") 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 § 53659?
A common citation format is "Public Contract Code - PCC § 53659" (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 § 53659 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.