§ 16634 State Deposit Receipt Requirements

Government Code·California

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Key Takeaways

•The state must get a receipt when putting money in a bank or credit union.
•The receipt must show how much money was deposited.
•The receipt must mention the agreement between the bank and the state.

Example

The state puts $100,000 in a local credit union.

The state must get a receipt from the credit union that shows $100,000 was deposited and mentions the deal they made.

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

Official Source

View on CA.gov

§ 16634 State Deposit Receipt Requirements

At the time of depositing state money in any savings and loan association or credit union, designated as a depository, the Treasurer shall take and preserve a receipt, certificate of deposit, or any other evidence of the deposit as the Treasurer may require, stating the amount deposited and referring to the contract made between the depository savings and loan association or credit union and the Treasurer. (Amended by Stats. 1987, Ch. 1035, Sec. 18.)

Last verified: January 22, 2026

Key Terms

state money savings and loan association credit union Treasurer receipt certificate of deposit evidence of the deposit contract

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 16634.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References