§ 16672 Fiscal Agent Bond Requirements

Government Code·California

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Key Takeaways

•The Treasurer can ask someone handling the state's money to promise (with a bond) they'll do their job right.
•The Governor has to say it's okay first.
•This is to make sure the person doesn't mess up with the state's money.

Example

A bank is hired by the state to manage tax money.

The Treasurer can make the bank promise (with a bond) they won't lose or steal the money. The Governor has to agree to this first.

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

Official Source

View on CA.gov

§ 16672 Fiscal Agent Bond Requirements

With the approval of the Governor, the Treasurer may fix the amount of and require bonds from any fiscal agent to the State, conditioned on the faithful performance of its duties as fiscal agent. (Amended by Stats. 1957, Ch. 2070.)

Last verified: January 22, 2026

Key Terms

Treasurer Governor fiscal agent bonds faithful performance

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 16672.

Key Takeaways

Example

Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References