Financial Code section 6509

An association may act as depository for receipt of payments of federal or state taxes and loan funds, and may satisfy any related federal or state statutory or regulatory requirements, including pledging of assets as collateral, payment of interest at prescribed rates, and, notwithstanding any other provision of this division, may issue the accounts subject to the right of immediate withdrawal.

Source: Section 6509, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=6509.­ (updated Jan. 1, 1983; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 6509's source at ca​.gov