Section 1763 - Custodian, Trustee or Management Agency Account(a) The board of directors of Fidelity Corporation shall appoint a bank located in this State as custodian of any funds collected or investments made by it. The custodian shall be responsible for the safekeeping of all such funds and investments and evidences thereof.(b) In lieu of appointing a custodian, the board of directors of Fidelity Corporation may either appoint a bank to act as trustee or create a management agency account with a bank. The appointment of a custodian or trustee, or the creation of a management agency account shall be reported to the Commissioner at least (5) business days before the making of such an appointment or the creation of such account. Any such appointment or agreement must be acceptable to the Commissioner.Cal. Code Regs. Tit. 10, § 1763
1. Change without regulatory effect filed 3-10-86; effective thirtieth day thereafter (Register 86, No. 11). For history of former section 1763, see Register 81, No. 49. Note: Authority cited: Sections 17315 and 17337, Financial Code. Reference: Sections 17310, 17315, 17320, 17333 and 17337, Financial Code.
1. Change without regulatory effect filed 3-10-86; effective thirtieth day thereafter (Register 86, No. 11). For history of former section 1763, see Register 81, No. 49.