Section 16553 Of Article 3. Custody Of Securities From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 4. >> Article 3.

. Any qualified trust company or any federal reserve bank or any branch thereof to which securities are delivered, either as agent or depositary for the Treasury, shall make such disposition of the securities as the Treasurer directs and is responsible only for strict compliance with written instructions given to it by the Treasurer. All such securities are at all times subject to the order of the Treasurer.