Cal. Code Regs. Tit. 2, § 1898.4 - Assignment of Mortgages and Deeds of Trust
Unless a power of attorney has been furnished pursuant to Section 1898.6, all pledged mortgages or deeds of trust shall be properly assigned to the Treasurer, in such form as he may prescribe, to protect the security of the state deposits. No such assignment shall be recorded by the Treasurer until such time as the depository fails to pay all or any part of the deposit for which such mortgage or deed of trust stands as security.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.