§ 16552 Treasurer'S Security Receipt Responsibility

• •The Treasurer must get a receipt when giving securities to a trusted company or a federal bank.
• •The state is not responsible if something happens to the securities while they are with the trusted company or bank.
• •The state is only responsible again once the Treasurer takes the securities back.

You give your bike to a friend to keep safe while you're on vacation.

Your friend gives you a note saying they have your bike. If something happens to the bike while they have it, it's not your problem until you take it back.