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HomeGovernment CodeDiv. 4Pt. 2Ch. 4Art. 3§ 16554 Trust Company Handling Fees

§ 16554 Trust Company Handling Fees

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 16554 Trust Company Handling Fees

Key Takeaways

  • •If a special company or bank keeps your important papers safe, you have to pay them, not the government.
  • •The government won’t pay the fee for storing your stuff, even if they told you to keep it there.
  • •This rule is for things like stocks or bonds, not regular money.

Example

You own some stocks and the government says you have to keep them in a special bank for safety.

The bank will charge you a fee for keeping your stocks safe. You have to pay that fee yourself—the government won’t cover it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 16554 Trust Company Handling Fees

The charges of any qualified trust company or of any federal reserve bank or any branch thereof for the handling and safekeeping of such securities are not a charge against the Treasurer but shall be paid by the owner. (Amended by Stats. 2015, Ch. 25, Sec. 26. (SB 84) Effective June 24, 2015.)

Last verified: January 22, 2026

Key Terms

qualified trust companyfederal reserve bankhandling and safekeepingchargesTreasurerowner

Related Statutes

  • § 16551 Treasurer Security Deposit Authority
  • § 16552 Treasurer'S Security Receipt Responsibility
  • § 16553 Treasurer'S Securities Disposition Authority
  • § 16626 Treasurer Security Deposit Authority
  • § 16628 Treasurer'S Securities Disposition Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 16554.
View Official Source