§ 1898.1. Definitions.

The following terms shall be used in the manner described below, when used in this Chapter.

(a) “Act” means the Bank Deposits Law, Chapter 4 of Part 2, Division 4, Title 2 of the Government Code or the Savings and Loan Association Deposits Law, Chapter 4.5 of Part 2, Division 4, Title 2 of the Government Code.

(b) “Treasurer” means the Treasurer, State of California.

(c) “Depository” means a Bank or Savings and Loan Association, located in this state, eligible under law to accept state deposits.

(d) “Qualified Trust Company” means the trust department of any state or national bank, in this state, or a trust company authorized to act as such in this state.

(e) “Promissory Note” means a promissory note secured by a first mortgage or first trust deed upon residential real property and improvements, used for residential purposes, located in California, and acceptable by the Treasurer as collateral to secure state deposits.