California Financial Code

§ 5116

FIN § 5116 Effective Sep 26, 1985Div. 2 · Ch. 1 · Art. 2

Statute text

“Savings account” means that part of the savings liability of an association that is credited to the holder of the account. A savings account may be referred to as a deposit. For the purposes of Sections 6661, 6662, and 6663 and Article 4 (commencing with Section 6725) through Article 10 (commencing with Section 7000), inclusive, of Chapter 5 of this division, the term “savings account” includes shares, demand accounts, savings deposits and other savings accounts of federal associations.

Legislative history

Amended by Stats. 1985, Ch. 983, Sec. 1.7. Effective September 26, 1985.