California Government Code

§ 5753

GOV § 5753 Effective Jan 1, 1993Div. 6 · Title 1 · Ch. 9.5

Statute text

In arranging the sale of bonds, the Treasurer may impose the following requirements on any financial institution that sells the bonds to the public:

(a)California residents planning to use the tax-exempt income for college expenses shall have first priority for purchase of the bonds and all other California residents shall be given second priority for purchase of the bonds.

(b)The broker or institution marketing the bonds may not establish a minimum order size.

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Legislative history

Added by Stats. 1992, Ch. 954, Sec. 1. Effective January 1, 1993.