California · Financial Code
FIN §18003.7: “Demand deposit” means investment or thrift certificates in account, passbook, or certificate form which are redeemable and payable upon demand to the owner.
What this law says, in plain English
This statute defines 'demand deposit' as investment or savings certificates in various forms that can be withdrawn and paid to the owner on demand.
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.