California Financial Code

§ 7054

FIN § 7054Div. 2 · Ch. 5 · Art. 11

Statute text

The board of directors, by resolution, may determine any of the following:

(a)That interest shall not be paid on designated types of savings accounts from which withdrawals may be made upon demand or by negotiable and transferable order or authorization.

(b)That an association may establish minimum balance requirements for savings accounts to be eligible for distribution of interest.

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Legislative history

Added by Stats. 1983, Ch. 1091, Sec. 2.