California Military and Veterans Code

§ 1003.13

MVC § 1003.13Div. 4 · Ch. 7 · Art. 4

Statute text

Prior to the issuance of any debentures the department is authorized to deposit in any reserve fund created for the further security of the debentures, as the initial deposit therein, cash or securities equal to the minimum amounts required to be maintained therein by any resolution of issuance. Excess money in the reserve fund or account not required to be maintained therein by the provisions of any resolution of issuance may be withdrawn at the request of the department and transferred to the Veterans’ Farm and Home Building Fund of 1970 and used and applied for the purpose of carrying out the Veterans’ Farm and Home Purchase Act of 1974.

Legislative history

Amended by Stats. 1976, Ch. 663.