Section 16001.5.10 - Execution of Documents(a) No officer or employee of a depository duly authorized to execute any order of withdrawal or order of substitution required in Subchapter 3 of this Chapter or to execute or verify any statement or agreement relating to securities (REN) required in Subchapter 7 of this Chapter shall be authorized to execute or verify or shall execute or verify any statement of deposits required in Subchapter 3 of this Chapter.(b) If a depository is authorized to engage in the trust business in this State and is eligible to act as agent of depository, no officer or employee of the trust department of such depository shall be authorized to execute or shall execute any order, statement, certificate, verification, report, or other document required by the Local Agency Deposit Security Law or this Chapter of a depository or of a duly authorized officer or employee of a depository.(c) If an agent of depository is a depository, no officer or employee of such depository other than an officer or employee of the trust department of such depository, shall be authorized to execute or shall execute any order, statement, certificate, verification, report, or other document, required by the Local Agency Deposit Security Law or this Chapter of an agent of depository or of a duly authorized officer or employee of an agent of depository.Cal. Code Regs. Tit. 2, § 16001.5.10
1. Amendment of subsection (a) filed 7-16-80; effective thirtieth day thereafter (Register 80, No. 29). Note: Authority cited: Section 53661, Government Code. Reference: Article 2, Chapter 4, Part 1, Division 2, Title 5, Government Code.
1. Amendment of subsection (a) filed 7-16-80; effective thirtieth day thereafter (Register 80, No. 29).