California · Financial Code
FIN §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 time or times when the interest is to be pa
What this law says, in plain English
This statute requires directors to decide how interest on savings accounts is calculated and when that interest gets paid.
Read the full statutory text
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 time or times when the interest is to be paid or credited.
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