{"data":{"id":"us-ca/gov-53601.5","jurisdiction":"us-ca","citation":"GOV § 53601.5","heading":"","body":"The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.1, not purchased directly from the issuer, shall be purchased either from an institution licensed by the state as a broker-dealer, as defined in Section 25004 of the Corporations Code, or from a member of a federally regulated securities exchange, from a national or state-chartered bank, from a savings association or federal association (as defined by Section 5102 of the Financial Code) or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank.","path":["Government Code - GOV","TITLE 5. LOCAL AGENCIES [50001. - 57607.]","DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]","PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]","CHAPTER 4. Financial Affairs [53600. - 53997.]","ARTICLE 1. Investment of Surplus [53600. - 53610.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"a580a493f217b738bd5399c683729b4faee4a8d09d94aaaaa32999c46ff048d8","source_id":"us-ca","stale":false,"prev":"us-ca/gov-53601.2","next":"us-ca/gov-53601.6"},"notice":"GroundRules: Original legal text. Not legal advice."}