Section 17221 Of Article 2. Registration From California Government Code >> Division 4. >> Title 2. >> Part 4. >> Chapter 2. >> Article 2.
17221
. Whenever the Controller draws a warrant upon the Treasurer
payable out of the General Fund in an amount in excess of the balance
remaining in the unapplied money in the General Fund after first
deducting from the unapplied money the amount, as estimated by the
Controller, that is required by law to be earmarked, reserved, or set
apart from the unapplied money for the payment of obligations of the
state having priority over the obligation to which the warrant is
applicable, the Controller shall upon the same day present it to the
Treasurer, or seek the Treasurer's delegation to endorse the warrant
as required by this section. The Treasurer shall endorse, or delegate
to the Controller to endorse, upon its back the date of presentation
or endorsement by the Controller; that it is not paid for want of
funds; and that it bears interest at the rate fixed pursuant to law
from the date of the registration to the date of maturity, or the
date upon which the Treasurer advertises that it is payable upon
presentation if it bears no date of maturity. Warrants so endorsed
are registered warrants. The Controller shall supply the Treasurer
with a daily list of the numbers of the warrants so registered.