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HomeGovernment CodeDiv. 4Pt. 2Ch. 4.5Art. 1§ 16607 Treasurer'S Deposit Liability Limit

§ 16607 Treasurer'S Deposit Liability Limit

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

§ 16607 Treasurer'S Deposit Liability Limit

Key Takeaways

  • •The Treasurer is not responsible for money you put in a savings and loan or credit union.
  • •If something happens to your money while it's in there, the Treasurer won't fix it or give you new money.
  • •This rule is only for money put in because of this law.

Example

You put your money in a credit union, and the credit union loses it.

The Treasurer won't help you get your money back because they aren't responsible for it.

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

Official Source
View on CA.gov

§ 16607 Treasurer'S Deposit Liability Limit

The Treasurer is not responsible for any money deposited in a savings and loan association or credit union pursuant to this chapter, and while it remains so deposited. (Amended by Stats. 1987, Ch. 1035, Sec. 8.)

Last verified: January 22, 2026

Key Terms

Treasurersavings and loan associationcredit uniondeposited

Related Statutes

  • § 16604 Deposit Limits For Institutions
  • § 16606 Officer Bond Liability Exemption
  • § 16611 Deposit Security Requirements
  • § 16613 Treasurer'S Indemnity Bond Requirement
  • § 16621 Deposit Security Recovery

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 16607.
View Official Source