“Securities depository” means any person or group of persons who acts as the custodian of securities in accordance with a system for the central handling of securities whereby all securities of a particular class or series of any issues deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entries effected by that person without physical delivery of such securities.
Cal. Fin. Code § 30004
Application of This Division
Known as the Securities Depository Law
The act spans §§ 30000–30006 (7 sections).
Added by Stats. 1972, Ch. 1057.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.