Statute · California Financial Code
Cal. Fin. Code § 6653 — Savings Accounts
Cal. Fin. Code § 6653
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) No association shall, directly or indirectly, for the opening or increasing of any savings account, give, sell, dispose of, or permit the giving, selling, or disposition of, for any one opening or increase anything having a cost or value in excess of the amount authorized by the commissioner…
Citator
Cal. Fin. Code § 6653 — Savings Accounts is in force in the current edition of the Code, and nothing recorded condemns it.
(a) No association shall, directly or indirectly, for the opening or increasing of any savings account, give, sell, dispose of, or permit the giving, selling, or disposition of, for any one opening or increase anything having a cost or value in excess of the amount authorized by the commissioner by regulation.
(b) Notwithstanding subdivision (a) the commissioner is authorized to impose by regulation restrictions on associations, relating to the distribution and advertising of giveaways, equivalent to those imposed on federal associations doing business in this state.