§ 1899.580.

(a) If registered warrants are called prior to their maturity date, the State Treasurer shall do all of the following:

(1) Publish a notice of redemption for six consecutive days, excluding Sundays, in newspapers of general circulation serving Sacramento, San Francisco, and Los Angeles;

(2) Post a notice of redemption on the Treasurer's Office website at the same time as the notice is first published pursuant to subsection (a); and

(3) Advise its depository banks of the redemption at the same time as the notice is first published pursuant to subsection (a).

(b) If insufficient funds are available to redeem registered warrants on the maturity date, the State Treasurer shall redeem such registered warrants in the time and order directed by the State Controller, and as approved by the Pooled Money Investment Board.

HISTORY

1. New section filed 7-30-2009 as an emergency; operative 7-30-2009 (Register 2009, No. 31). A Certificate of Compliance must be transmitted to OAL by 1-26-2010 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 7-30-2009 order transmitted to OAL 12-15-2009 and filed 1-26-2010 (Register 2010, No. 5).

Note

Note: Authority cited: Sections 17210 and 17271, Government Code. Reference: Sections 17210 and 17273, Government Code.