California · Financial Code

FIN §6701: An association may contract with any employer, as follows: (a) With respect to the solicitation, collection, and receipt of savings by payroll deduction to be credited to a designated account or accou

What this law says, in plain English

An association may enter into contracts with employers to solicit, collect, and receive employee savings through payroll deduction, crediting funds to a designated account.

Read the full statutory text
An association may contract with any employer, as follows: (a) With respect to the solicitation, collection, and receipt of savings by payroll deduction to be credited to a designated account or accounts of its employees who voluntarily elect to participate. (b) With respect to the direct deposit of wages or salary paid to the account of the employee by electronic or other medium upon authorization in writing by the employee and designation of the association as the recipient of the deposits.

Verify at the official source: California legislative text

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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.