DIVISION 1.1. BANKING 1000-1910›CHAPTER 15. Industrial Banks 1530-1542›ARTICLE 2. Industrial Bank Business 1540-1542

§ 1541

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

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California Financial Code

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