Section 16528 Of Article 2. Security For Deposits From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 4. >> Article 2.

. The bond of an admitted surety insurer shall not be accepted as security for demand or time deposits unless it has been certified by the Insurance Commissioner as meeting the requirements of this chapter and unless it also holds a certificate of authority from the United States Treasury Department under which it is eligible as surety on federal bonds.