12305. The Treasurer may contract for and secure insurance against the loss of securities and money in the Treasurer’s custody from any insurable risk whatsoever.The amount of insurance obtained shall not exceed the daily average amount of cash and securities respectively, in the custody of the Treasurer in the preceding year.(Amended by Stats. 2021, Ch. 50, Sec. 61. (AB 378) Effective January 1, 2022.)
California Legal Code