California Code, Streets and Highways Code - SHC § 31172

The Commissioner of Financial Institutions may investigate and ascertain the status or sufficiency as investments for savings banks in this state of any such bonds.  If upon investigation it is determined in his or her opinion that such bonds constitute a proper investment for savings banks, he or she shall so certify.  The Commissioner of Financial Institutions may revoke any such certificate issued by him or her at any time in his or her discretion.