California Code of Civil Procedure

§ 995.740

CCP § 995.740 Effective Jan 1, 2015Title 14 · Part 2 · Ch. 2 · Art. 7

Statute text

If no proceedings are pending to enforce the liability of the principal on the deposit, the officer shall:

(a)Pay quarterly, on demand, any interest on the deposit, when earned in accordance with the terms of the account or certificate, to the principal.

(b)Deliver to the principal, on demand, any interest coupons attached to bonds or notes, including bearer bonds and bearer notes, as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.

Legislative history

Amended by Stats. 2014, Ch. 305, Sec. 3. (AB 1856) Effective January 1, 2015.