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Section 17302 Of Article 1. Definitions From California Financial Code >> Division 6. >> Chapter 2.5. >> Article 1.

17302
. "Trust obligation" means:
  (a) All money and property deposited with a member within the State of California in an escrow or joint control transaction.
  (b) All money and property deposited with a member to be held in trust within the State of California pursuant to a federal or state statute or requirements of a governmental agency.