Section 16509 Of Article 1. General From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 4. >> Article 1.

. The Treasurer is responsible for the safekeeping, management and disbursement of the certificates of deposit received and the securities deposited with him, the interest received on deposits, and the proceeds of any sale under this chapter. The State is responsible for the custody and safe return of any securities so deposited.