Section 7600.

7600. It is the intent of the Legislature that: (a) Specified state agencies be authorized to invest marketable securities by entering into security loan agreements; (b) State agencies charged with such authority exercise prudence in making such agreements; (c) Sound fiscal management be established with respect to transactions involving security agreements. (Added by Stats. 1975, Ch. 1214.)

Section 7601.

7601. As used in this chapter: (a) “Security loan agreement” means a written contract whereby a legal owner (the lender) agrees to lend specific marketable corporate or government securities for a period not to exceed one year. The lender retains the right to collect from the borrower all dividends, interest, premiums, rights, and any other distributions […]