§ 6602
56 words·~1 min read·
/ca/financial-code/6602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Savings accounts may be opened for cash or, subject to any limitations or restrictions in regulations issued by the commissioner, for property in which the association is authorized to invest. In the absence of fraud in the transaction, the value of the property taken in payment, as determined by the board of directors, shall be conclusive.