Gov. Code, § 16486 · Article 5. Interfund Purchases, Sales and Transfers of Bond Investments
Gov. Code, § 16486
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
For the purposes of this article, the following definitions shall apply:
(a) “Investing authority,” with respect to any State Treasury fund, means the state agency authorized by law to purchase or sell bond investments on behalf of that fund.
(b) “Effective date” means the date on which the sale or transfer of bonds is to take effect.
(c) “Market value” means the market value of the bonds to be sold, purchased, or transferred, as that value is jointly determined by the respective investing authorities of the funds affected by the transaction, plus the accrued interest on the bonds, as of the effective date. If the respective investing authorities fail to agree, the “market value” of the bonds shall be determined by the Treasurer.
(d) “Bond” means any bond, note, or other form of indebtedness that is a legal investment for any state fund affected by the transaction.
Notes and commentary — not statutory text
History
Amended by Stats. 1996, Ch. 320, Sec. 25. Effective January 1, 1997.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=16486.
- Text hash
- sha256 af5a80d57818fbe9fd0f1337e54a0fff6d350b93dbbc3a233c157d2d80843b6a
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.