Cal. FIN § 1422
This is the official text of Cal. FIN § 1422, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
For the purposes of computing the amount of interest or dividends payable with respect to an interest-bearing deposit account, a depository institution shall not delay beginning to compute interest on funds deposited by check or similar instrument to such an account beyond the date on which that depository institution receives provisional credit for the check or similar instrument. However, the payment of interest with respect to funds deposited by check or similar instrument which is returned unpaid shall not be required.
Status: in_force · Read it on the official government site
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