Financial Code § 1541

ARTICLE 2. Industrial Bank Business

Current as of September 28, 2026Fin. Code, § 1541Official source ↗

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

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.