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California Financial Code

§ 1415

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

Statute text

View on leginfo.ca.gov
(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.

Source: California Financial Code § 1415 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.