§ 4306. Payment of interest

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(a)Calculated on full amount of principal Interest on an interest-bearing account at any depository institution shall be calculated by such institution on the full amount of principal in the account for each day of the stated calculation period at the rate or rates of interest disclosed pursuant to this chapter.

(b)No particular method of compounding interest required Subsection

(a)shall not be construed as prohibiting or requiring the use of any particular method of compounding or crediting of interest.

(c)Date by which interest must accrue Interest on accounts that are subject to this chapter shall begin to accrue not later than the business day specified for interest-bearing accounts in section 4005 of this title, subject to subsections

(b)and

(c)of such section.

(Pub. L. 102–242, title II, § 267, Dec. 19, 1991, 105 Stat. 2338; Pub. L. 102–550, title XVI, § 1604(e)(2)(B), (C), Oct. 28, 1992, 106 Stat. 4084.)

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statutes-at-large

statute-compilations

Sec. 267
PAYMENT OF INTEREST

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U.S. Code

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Pub. L. 102–242, title II, § 267
105 Stat. 2338
Pub. L. 102–550, title XVI, § 1604(e)(2)(B)
106 Stat. 4084
Pub. L. 102–550
Pub. L. 102–242
section 1609(a) of Pub. L. 102–550

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cites case law

§ 4306

Payment of interest

Stat.×2

Stat. Comp.×1

U.S.C.§ 4005

U.S.C.§ 191

Pub. L.Pub. L. 102–242, title II, § 267

Stat.105 Stat. 2338

Pub. L.Pub. L. 102–550, title XVI, § 1604(e)(2)(B)

Stat.106 Stat. 4084

Pub. L.Pub. L. 102–550

Cites 9 · showing 7Cited by 3 across 2 sources