Statute · California Government Code
Cal. Gov't Code § 53645 — Deposit of Funds
Cal. Gov't Code § 53645
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1993-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Interest shall be computed and paid by the depository, as follows:
Citator
Cal. Gov't Code § 53645 — Deposit of Funds is in force in the current edition of the Code, and nothing recorded condemns it.
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.