§ 22707 Bond Investment Authorization Rules

Public Utilities Code·California

AI SummaryVerified

Key Takeaways

•Some special bonds can be bought or used as security for loans by banks and other financial groups.
•These bonds must be checked and approved by a state officer first.
•Only certain people or groups, like banks or insurance companies, can use these bonds for loans or investments.

Example

A local bank wants to lend money to a small business but wants to make sure the loan is safe.

The bank can accept these special bonds as a guarantee for the loan, but only if the bonds have been checked and approved by the state.

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

Official Source

View on CA.gov

§ 22707 Bond Investment Authorization Rules

When bonds issued pursuant to this part have been investigated and certified by any authorized officer of the state and are declared to be legal investments for savings banks, they may be purchased or received in pledge for loans by savings banks, building and loan companies, trust companies, insurance companies, guardians, conservators, executors, administrators, and special administrators, or by any public officer of the state or of any county or other municipal or corporate body in the state having or holding funds which they may legally invest or loan. (Amended by Stats. 1979, Ch. 730.)

Last verified: January 23, 2026

Key Terms

bonds legal investments savings banks authorized officer of the state building and loan companies trust companies insurance companies guardians conservators executors administrators special administrators public officer

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 22707.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References