Chapter 2. Securities For Deposit of California Financial Code >> Division 11.5. >> Chapter 2.
Wherever, by statute of this State, collateral is required
as security for the deposit of public or other funds, or deposits are
required to be made with any public official or department, or an
investment of capital or surplus, or a reserve or other fund, is
required to be maintained consisting of designated securities, the
notes, and bonds secured by mortgages insured, and debentures issued,
by the Federal Housing Administrator, and obligations of national
mortgage associations are eligible securities for such purposes.