California Legal Codes and Statutes

§ 53655

Repealed and added by Stats. 1969, Ch. 1483.

A placement of securities by a depository with an agent of depository pursuant to this article shall have the effect of perfecting a security interest in those securities in the local agencies having deposits in that depository notwithstanding provisions of the Uniform Commercial Code to the contrary and notwithstanding that the agent of depository may be the trust department of the depository.

Cite this section

Cal. Gov. Code § 53655 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-4-financial-affairs/article-2-deposit-of-funds/section-53655

Other sections in Article 2 - Deposit of Funds

§ 53630§ 53630.1§ 53630.5§ 53631§ 53632§ 53632.5§ 53633§ 53634§ 53635§ 53635.2…§ 53676§ 53678§ 53679§ 53679.1§ 53680§ 53681§ 53682§ 53683§ 53684§ 53686

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 15, 2026.