Statute · California Probate Code
Cal. Prob. Code § 9705 — Deposit of Money and Personal Property With Financial Institutions
Cal. Prob. Code § 9705
- Type
- Statute
- Source
- California Probate Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Subject to subdivision (b), where a trust company is a personal representative and in the exercise of reasonable judgment deposits money of the estate in an account in any department of the corporation or association of which it is a part, it is chargeable with interest thereon at the rate…
Citator
Cal. Prob. Code § 9705 — Deposit of Money and Personal Property With Financial Institutions is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Subject to subdivision (b), where a trust company is a personal representative and in the exercise of reasonable judgment deposits money of the estate in an account in any department of the corporation or association of which it is a part, it is chargeable with interest thereon at the rate of interest prevailing among banks of the locality on such deposits.
(b) Where it is to the advantage of the estate, the amount of cash that is reasonably necessary for orderly administration of the estate may be deposited in a checking account that does not earn interest which is maintained in a department of the corporation or association of which the trust company is a part.