§ 16630 Treasurer Savings Contracts

• •The Treasurer can make deals with savings and loan places if it's good for the public.
• •These deals set how long money stays in the bank, how much interest it earns, and when interest is paid.
• •The deals also say when and how the money can be taken out or paid back, and how it's kept safe.

The state has extra money it doesn't need right now.

The Treasurer can put this money in a savings and loan place to earn some interest. They agree on how long the money stays there, how much interest the state gets, and when they can take the money out if they need it.