{"code":"GOV","codeName":"Government Code","section":"53645","citation":"Gov. Code, § 53645","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 5. LOCAL AGENCIES [50001. - 57607.]","url":"https://blackletter.si/government-code/title-5"},{"name":"DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]","url":"https://blackletter.si/government-code/title-5/division-2"},{"name":"PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1"},{"name":"CHAPTER 4. Financial Affairs [53600. - 53997.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-4"},{"name":"ARTICLE 2. Deposit of Funds [53630. - 53686.]","url":"https://blackletter.si/government-code/title-5/division-2/part-1/chapter-4/article-2"}],"history":"Amended by Stats. 1992, Ch. 523, Sec. 5.3.   Effective January 1, 1993.","effective":"1993-01-01","html":"<p>Interest shall be computed and paid by the depository, as follows:</p><p>(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.</p><p>(b) For inactive deposits, interest shall be computed on a 360-day basis, and shall be paid quarterly.</p>","text":"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.","otherVersions":[],"url":"https://blackletter.si/government-code/deposit-of-funds-53645","source":"California Legislative Information bulk export (pubinfo)"}