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DIVISION 9. EXPENDITURE LIMITATIONS 7900-7914›PART 1. GENERAL 36501-36525›CHAPTER 2. Sales and Leases 52201-52203›ARTICLE 2. Deposit of Funds 53630-53686

§ 53645

California Government Code · 2026-09 edition · updated 2026-09-27 · California

Interest shall be computed and paid by the depository, as follows:

(a) For active deposits upon which interest is payable, interest shall be computed on the average daily balance for the calendar quarter, and shall be paid quarterly.

(b) For inactive deposits, interest shall be computed on a 360-day basis, and shall be paid quarterly.

(Amended by Stats. 1992, Ch. 523, Sec. 5.3. Effective January 1, 1993.)

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California Government Code

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