California Government Code 11007.5 – Any state agency, with the approval of the Department of General …
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Any state agency, with the approval of the Department of General Services, may secure insurance protecting the state against loss by burglary, robbery, theft, or embezzlement of funds or securities belonging to the state which are in the possession or control of the agency.
(Amended by Stats. 1965, Ch. 371.)
Terms Used In California Government Code 11007.5
- Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
- state agency: includes every state office, officer, department, division, bureau, board, and commission. See California Government Code 11000