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HomeFinancial CodeDiv. 1Ch. 3Art. 6§ 412 Moneys To State Treasurer

§ 412 Moneys To State Treasurer

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 412 Moneys To State Treasurer

Key Takeaways

  • •The commissioner must give all the money they collect (except some special cases) to the Treasurer.
  • •The Treasurer puts this money into a special bank account called the State Banking Account.
  • •This rule does not apply to money from savings banks, credit unions, or certain other businesses.

Example

If the commissioner collects fees from regular banks for licenses or fines,

they must send that money to the Treasurer, who will put it into the State Banking Account. But if the money comes from a credit union or a savings bank, it doesn’t have to go there.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 412 Moneys To State Treasurer

The commissioner shall deliver all moneys received or collected by the commissioner under Section 405, 406, or 408 or otherwise, other than moneys received or collected by the commissioner under laws relating to savings associations, the savings association business, credit unions, the credit union business, industrial banks, the industrial banking business, insurance premium finance agencies, the insurance premium finance business, or Article 2 (commencing with Section 53630) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, to the Treasurer, who shall deposit the moneys to the credit of the State Banking Account of the Financial Institutions Fund. (Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)

Last verified: January 23, 2026

Key Terms

insurancetrialpremiumcommissionstate banking accountfinancial institutions fundstate treasurerassociation

Related Statutes

  • § 411 Department Expenses Funding Source
  • § 414 Department Expense Payment Authority
  • § 18290 Credit Insurance For Loans
  • § 329 Bank Regulatory Provisions
  • § 413 Assessment Expense Allocation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 412.
View Official Source