§ 16603 Treasurer'S Deposit Management Authority

• •The state can move money from savings accounts to regular bank accounts if they need cash fast.
• •This only happens if the rules in the contract allow it.
• •It’s like taking money from your piggy bank to pay for something urgent.

Imagine the state has money saved in a credit union, but suddenly needs cash to pay for something important, like fixing roads after a storm.

If the contract allows it, the state can move that saved money to a regular bank account to use it right away.