California Code of Regulations
Title 2 - Administration
Division 4.5 - Local Agency Deposit Security
Chapter 2 - Administrator of Local Agency Security
Subchapter 7 - Security Pools (REN)
Article 1 - General Provisions
Section 16007.1.10 - Reliance by Agent of Depository

So long as an agent of depository which holds a security pool (REN) accepts and continues to accept in good faith from the depository the statements called for in Subdivision (e) of Section 16007.1.4 and Subdivision (a) of Section 16007.1.8 of this Chapter, such agent of depository may rely upon such statements in determining for purposes of the Local Agency Deposit Security Law and this Chapter the eligibility as an eligible security (REN) and the market value of any security (REN) covered by the statements.

Note: Authority cited: Section 53661, Government Code. Reference: Section 53651, Government Code.