California Financial Code

§ 6517

FIN § 6517Div. 2 · Ch. 4 · Art. 1

Statute text

Subject to Regulation E (12 CFR Part 205) and to rules and regulations of the commissioner, an association may transfer funds between holders of savings accounts, and third parties, or their designees, by means of an electronic funds transfer system. No system or any part of it, including terminals or processing centers, shall of itself be considered a branch office or agency.

Legislative history

Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.