Financial Code section 1541

Subject to any order or regulation of the commissioner, an industrial bank may accept deposits evidenced by a deposit account or by certificates, that are redeemable prior to their stated maturity, but may not accept demand deposits.

Source: Section 1541, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1541. (accessed Jun. 2, 2025).

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Last Updated

May 12, 2025

§ 1541’s source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_1541

Original Source: Section 1541, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1541. (last accessed May 12, 2025).