Section 13470 Of Article 2. State School Funds From California Government Code >> Division 3. >> Title 2. >> Part 3. >> Chapter 6. >> Article 2.
13470
. Whenever there is in the treasury to the credit of the
Unclaimed Property Fund the sum of twenty thousand dollars ($20,000)
or more, the Director of Finance shall invest all but ten thousand
dollars ($10,000) in the bonds specified in this article. No
investment shall be made which will reduce the uninvested portion of
the fund below the amount of ten thousand dollars ($10,000), and
whenever a demand presented against the fund will reduce the amount
of cash therein below ten thousand dollars ($10,000), the director
shall sell such bonds belonging to the fund as he deems proper, so as
to restore the cash retention of ten thousand dollars ($10,000).