California Government Code

§ 57602

GOV § 57602 Effective Jan 1, 2020Div. 5 · Title 5

Statute text

(a)A public bank shall obtain and maintain deposit insurance provided by the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act (12 U.S.C. Sec. 1811 et seq.).

(b)In seeking and retaining insurance, a public bank may do all things and assume and discharge all obligations required of it that are not in conflict with state law.

Legislative history

Added by Stats. 2019, Ch. 442, Sec. 16. (AB 857) Effective January 1, 2020.