§ 40500
53 words·~1 min read·
/ca/financial-code/40500A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the intent of the Legislature that a financial institution shall not transfer funds from a depositor’s account unless authorization has been granted by that depositor. This division is declaratory of existing case law and is intended to codify the law for the convenience of the public, regulatory authorities, and financial institutions.