California Public Utilities Code 3381 – Bonds issued by the authority are legal investments for all trust …
Bonds issued by the authority are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and savings, trust companies, executors, administrators, trustees, and other fiduciaries, for state school funds, pension funds, and for any funds that may be invested in county, school, or municipal bonds. The bonds issued under this division are securities that may legally be deposited with, and received by, any state or municipal officer or agency or political subdivision of the state, including, without limitation, local agencies, schools, and pension funds, for any purpose for which the deposit of bonds or obligations of the state is now, or may hereafter be, authorized by law, including deposits to secure public funds.
(Added by Stats. 2001, 1st Ex. Sess., Ch. 10, Sec. 1. Effective August 13, 2001.)
Terms Used In California Public Utilities Code 3381
- Authority: means the California Consumer Power and Conservation Financing Authority established pursuant to Section 3320 and any board, commission, department, or officer succeeding to the functions thereof, or to whom the powers conferred upon the authority by this division shall be given by law. See California Public Utilities Code 3302
- Bonds: means bonds, including structured, senior, and subordinated bonds or other securities. See California Public Utilities Code 3302
- County: includes city and county. See California Public Utilities Code 18
- State: means the State of California. See California Public Utilities Code 3302
- Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Public Utilities Code 10