Any securities in the hands of a receiver may, under the control of the court, be deposited by the receiver in a securities depository, as defined in Section 30004 of the Financial Code, which is licensed under Section 30200 of the Financial Code or exempted from licensing thereunder by Section 30005 or 30006 of the Financial Code, and such securities may be held by such securities depository in the manner authorized by Section 775 of the Financial Code.
§ 568.1.Deposit of Securities Under Control of Receiver
Title 7. Other Provisional Remedies In Civil Actions · Chapter 5. Receivers · Enacted 1972 · no amendments on record · Last verified July 28, 2026
In one sentenceSection 568.1 lets a receiver, under the court's control, deposit securities held in the receivership with a licensed securities depository, to be held there the same way the Financial Code authorizes for any other depositor.
Full Text of § 568.1
Plain-English Summary
Receivers sometimes end up holding stocks, bonds, or other securities that need safekeeping rather than active management. Section 568.1 lets the receiver, under the court's control, deposit those securities with a securities depository -- an institution licensed under the Financial Code, or exempt from that licensing requirement, to hold securities on behalf of others.
Once deposited, the securities are held the way the Financial Code governs deposits generally, giving the receiver the same custodial protections and conveniences an ordinary depositor would have, rather than requiring the receiver to store certificates personally or arrange ad hoc safekeeping.
Frequently Asked Questions
Can a receiver deposit securities with a depository instead of holding them directly?
Yes, under the court's control, a receiver may deposit securities in the receiver's hands with a qualifying securities depository.
What kind of institution qualifies as a securities depository under this section?
One defined in Financial Code § 30004 that is licensed under Financial Code § 30200, or exempted from licensing by § 30005 or § 30006.
Does the receiver need the court's approval to make this deposit?
Yes, the deposit is made under the control of the court.
Amendment History
Added by Stats. 1972, Ch. 1057.
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 28, 2026.
· Official source
Also known as: receiver securities deposit californiareceiver depository securities california