California · Financial Code

FIN §2089: A licensee shall maintain eligible securities that are adequately diversified, predominantly of a duration commensurate with the licensee’s outstanding money transmission obligations, and of sufficien

What this law says, in plain English

A licensee must keep eligible securities that are well-diversified, match the duration of their money transmission obligations, and meet sufficiency requirements.

Read the full statutory text

A licensee shall maintain eligible securities that are adequately diversified, predominantly of a duration commensurate with the licensee’s outstanding money transmission obligations, and of sufficient liquidity and quality to promptly pay the outstanding money transmission obligations of the licensee.

Verify at the official source: California legislative text

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