Gov. Code, § 5753 · Chapter 9.5. California Savings Bond Program
Gov. Code, § 5753
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
In arranging the sale of bonds, the Treasurer may impose the following requirements on any financial institution that sells the bonds to the public:
(a) California residents planning to use the tax-exempt income for college expenses shall have first priority for purchase of the bonds and all other California residents shall be given second priority for purchase of the bonds.
(b) The broker or institution marketing the bonds may not establish a minimum order size.
(c) As long as the demand by individual investors is greater than the supply of bonds, the bonds shall not be sold to institutional investors.
Notes and commentary — not statutory text
History
Added by Stats. 1992, Ch. 954, Sec. 1. Effective January 1, 1993.
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=5753.
- Text hash
- sha256 f22002b5b93a0de2cbd0a225a2c427072bf580425b24fa7cafadeee312ee7ed8
- 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.