California Code of Regulations
Title 2 - Administration
Division 4.5 - Local Agency Deposit Security
Chapter 2 - Administrator of Local Agency Security
Subchapter 9 - Default of Depository
Article 4 - Conversion and Payment Instruction
Section 16009.4.4 - Conversion and Payment Instruction-Order of Sale

Whenever an agent of depository sells securities in a security pool (non-REN) in accordance with a conversion and payment instruction, such agent of depository shall sell such securities in the order of dates of maturity, commencing with the security bearing the earliest date of maturity.

1. Amendment filed 7-16-80; effective thirtieth day thereafter (Register 80, No. 29).

Note: Authority cited: Section 53661, Government Code. Reference: Section 53665, Government Code.