Section 1003.12 Of Article 4. Appropriation, Security, Sale, And Funds From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 4.
1003.12
. The State Controller is hereby authorized to make all
necessary orders to provide for the establishment of special funds
and accounts authorized by any resolution of issuance and for the
transfer of moneys from the Veterans' Debenture Revenue Fund into
such account. Such transfer shall be made by the State Treasurer
without further action on the part of the department. Neither the
department nor the State of California nor any officer thereof shall
have or exercise any rights with respect to the moneys in any of such
funds or accounts so established save only in trust for the direct
benefit of the holders of debentures.