California Financial Code

§ 1415

FIN § 1415 Effective Jan 1, 2019Div. 1.1 · Ch. 12 · Art. 1

Statute text

(a)For purposes of this section, the following definitions apply:

(1)“Nonqualifying account” means a deposit account, other than a demand deposit account, that is not a qualifying account.

(2)“Qualifying account” means a deposit account, other than a demand deposit account, through which a bank’s depositors may obtain chances to win prizes in a savings promotion.

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Legislative history

Added by Stats. 2018, Ch. 847, Sec. 1. (SB 1055) Effective January 1, 2019.