§ 53645
55 words·~1 min read·
/ca/government-code/53645A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Interest shall be computed and paid by the depository, as follows:
(a)For active deposits upon which interest is payable, interest shall be computed on the average daily balance for the calendar quarter, and shall be paid quarterly.
(b)For inactive deposits, interest shall be computed on a 360-day basis, and shall be paid quarterly.