California · Unemployment Insurance Code - UIC

UIC §1560: All money in the Unemployment Administration Fund, in excess of current requirements, and not otherwise invested, may be deposited by the State Treasurer in banks and savings and loan associations and

What this law says, in plain English

The State Treasurer may deposit excess Unemployment Administration Fund money in banks and savings and loan associations.

Read the full statutory text

All money in the Unemployment Administration Fund, in excess of current requirements, and not otherwise invested, may be deposited by the State Treasurer in banks and savings and loan associations and otherwise held and invested by him in the same manner as provided by law in the case of other special funds in the State Treasury, and under the same rules and regulations that govern the deposit of other public funds.

Verify at the official source: California legislative text

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