California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 10 - Banks
Article 6 - California State Offices of Foreign (Other Nation) Banks
Subarticle 3 - Agencies and Branch Offices
Part 10 - Deposit of Eligible Assets
Subpart 8 - Withdrawal and Release of Eligible Assets-Blanket Approval
Section 10.16179 - Certification

Before the approved depository of a subject institution releases an eligible asset from a pledge deposit, under the blanket approval granted in Section 10.16177 of this Chapter, two officers of the approved depository shall make a certification in duplicate that the eligible asset deposited and received in the pledge deposit has a value at least equal to the value of the eligible asset withdrawn and released. The approved depository shall retain one copy of such certification for a period of not less than two years after the release. Concurrently with or promptly after the release, the aproved depository shall serve the other copy of the certification on the subject institution, and the subject institution shall retain such other copy for a period of not less than two years after the release.

1. Amendment filed 3-12-82; effective thirtieth day thereafter (Register 82, No. 11).

Note: Authority cited: Section 215, Financial Code. Reference: Sections 1706 and 1761, Financial Code.