Funds subject to an impound condition shall be placed in a separate trust account with an approved depositary. The depositary shall be a national bank located in California or a California bank or trust company. A written consent of the depositary to act in such capacity shall be filed with the Commissioner.
Cal. Code Regs. Tit. 10, § 310.113.3
Note: Authority cited: Section 31502, Corporations Code. Reference: Section 31113, Corporations Code.