California Financial Code

§ 40500

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

FIN § 40500Div. 19

Statute text

View on leginfo.ca.gov

It is the intent of the Legislature that a financial institution shall not transfer funds from a depositor’s account unless authorization has been granted by that depositor. This division is declaratory of existing case law and is intended to codify the law for the convenience of the public, regulatory authorities, and financial institutions.

Legislative history

Added by Stats. 1985, Ch. 1057, Sec. 1.