California Financial Code ARTICLE 11 - Interest

• Section 7050.
  An association may issue savings accounts earning interest at different rates of return. The annual rate of return paid on a savings account may either...
• Section 7051.
  An association may classify its savings accounts on any basis including, but not limited to, character, amount, or duration of the account, regularity of additions,...
• Section 7052.
  Except for accounts that are classified according to a specified contractual time or notice period, interest shall be based on the withdrawal value of each...
• Section 7053.
  (a) The date of investment in a savings account shall be the date of actual receipt by the association of the account or an addition to...
• Section 7054.
  The board of directors, by resolution, may determine any of the following:(a) That interest shall not be paid on designated types of savings accounts from which...
• Section 7055.
  The directors shall determine the method of calculating the amount of any interest on any savings account classification as provided in this article and the...

Last modified: October 22, 2018