7176. A bank may act as depositary, paying agent or fiscal agent for the holding or handling of district funds, notwithstanding the fact that a member of the board is an officer, employee or stockholder of the bank, or of a holding company that owns any of the stock of the bank.(Added by Stats. 1959, Ch. 1598.)
California Legal Code
§ 7176
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=HNC&division=8.&title=&part=7.&chapter=6.&article=1.· Version 2026