The following definitions shall apply to the following terms used in this article:
(a) “City” shall mean City of Los Angeles and all Departments for whose funds the City Treasurer is custodian and those Departments who grant the Treasurer discretion over their funds pursuant to City Charter § 60(b).
(b) “Banking institution” shall mean:
(1) State and national banks;
(2) “Associations” and “savings associations” as defined in California Financial Code § 5102(a);
(3) “Federal associations” as defined in California Financial Code § 5102(b).
(c) “Banking services” shall include, but not be limited to, deposit services, electronic access services, disbursement services, lending money on the security of real or personal property or without security and other credit services, clearing and safekeeping of securities, wire transfers of funds, and collection, investment and disbursement services of funds associated with securities transactions.
SECTION HISTORY
Added by Ord. No. 167,683, Eff. 4-26-92.