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GOVERNMENTCODE <br />SECTION <br />53601.6. <br />(a)A localagencyshallnotinvestanyfundspursuanttothisarticleorpursuanttoArticle 2 (commencing <br />withSection53630)ininversefloaters,rangenotes,ormortgage-derived,interest-only strips. <br />(b)A localagencyshallnotinvestanyfundspursuanttothisarticleorpursuanttoArticle 2 (commencing <br />withSection53630)inany security thatcouldresult in zerointerest accrual ifheldtomaturity.However, a <br />localagencymayholdprohibitedinstrumentsuntiltheirmaturitydates.Thelimitationinthissubdivisionshall <br />notapplytolocalagencyinvestmentsinsharesofbeneficialinterestissuedbydiversifiedmanagement <br />companiesregisteredundertheInvestmentCompany Act of1940(15U.S.C. Sec. 80a-1 etseq.)thatare <br />authorizedforinvestmentpursuanttosubdivision(l)ofSection53601. <br />(AmendedbyStats.2009,Ch.332,Sec.68.1.EffectiveJanuary 1, 2010.) <br />. . . <br />GOVERNMENTCODE <br />SECTION <br />53638. <br />(a)Thedepositshallnotexceedtheshareholder’sequityofanydepositorybank.Forthepurposesofthis <br />subdivision,shareholder’sequityshallbedeterminedinaccordancewithSection463oftheFinancialCode, <br />butshallbedeemedtoincludecapitalnotesanddebentures. <br />(b)Thedepositshallnotexceedthetotalofthenetworthofanydepositorysavingsassociationorfederal <br />association,exceptthatdepositsnotexceeding a totaloffivehundredthousanddollars($500,000)maybe <br />madeto a savingsassociationorfederalassociationwithoutregardtothenetworthofthatdepository,if <br />such depositsareinsuredor secured asrequiredbylaw. <br />(c)Thedeposittotheshareaccountsofanyregularlycharteredcreditunionshallnotexceedthetotalofthe <br />unimpairedcapitalandsurplusofthecreditunion,asdefinedbyruleoftheCommissionerofFinancial <br />Institutions, except thatthedeposittoanycreditunionshareaccountinanamountnotexceedingfive <br />hundredthousanddollars($500,000)maybemadeiftheshareaccountsofthatcreditunionareinsuredor <br />guaranteedpursuanttoSection14858oftheFinancialCodeoraresecuredasrequiredbylaw. <br />(d)Thedepositininvestmentcertificatesof a federallyinsuredindustrialloancompanyshallnotexceedthe <br />totaloftheunimpairedcapitalandsurplusoftheinsuredindustrialloancompany. <br />(AmendedbyStats.2015,Ch.190,Sec.64.EffectiveJanuary1,2016.) <br />. . . <br />GOVERNMENTCODE <br />SECTION <br />53646. <br />(a)(1)Inthe case ofcountygovernment,thetreasurermayannuallyrendertotheboardofsupervisorsand <br />anyoversightcommittee a statementofinvestmentpolicy,whichtheboardshallreviewandapproveat a <br />publicmeeting.Anychangeinthepolicyshallalsobereviewedandapprovedbytheboardat a public <br />meeting. <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 35 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />