California Code, Penal Code - PEN § 514

Every person guilty of embezzlement is punishable in the manner prescribed for theft of property of the value or kind embezzled;  and where the property embezzled is an evidence of debt or right of action, the sum due upon it or secured to be paid by it must be taken as its value;  if the embezzlement or defalcation is of the public funds of the United States, or of this state, or of any county or municipality within this state, the offense is a felony, and is punishable by imprisonment in the state prison;  and the person so convicted is ineligible thereafter to any office of honor, trust, or profit in this state.