Section 10.190402 - Funds Availability(a) A depositary bank shall make funds deposited into a deposit account by an item available for withdrawal as provided in Regulation CC, 12 CFR Part 229 , except as set forth in subdivision (b). The hold schedules provided in Regulation CC, 12 CFR Part 229, and in subdivision (b), shall be the reasonable time for the collection and return of an item and the reasonable time by which a depositary bank must permit a depositor to draw on an item deposited into a deposit account.(b)(1) A depositary bank which is a 1210 bank shall make funds deposited into a deposit account by an item drawn on a 1220 bank or a paying bank located in the portion of California served by the Los Angeles Branch of the Federal Reserve Bank of San Francisco available for withdrawal not later than the fourth business day following the banking day on which the funds are deposited.(2) A depositary bank which is a 1220 bank shall make funds deposited into a deposit account by an item drawn on a 1210 bank or a paying bank located in the portion of California served by the Head Office of the Federal Reserve Bank of San Francisco available for withdrawal not later than the fourth business day following the banking day on which the funds are deposited.Cal. Code Regs. Tit. 10, § 10.190402
1. Repealer and new section filed 10-17-88 as an emergency; operative 10-17-88 (Register 88, No. 45). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-14-89.
2. Certificate of Compliance including amendment transmitted to OAL 2-10-89 and filed 3-13-89 (Register 89, No. 11).
3. Amendment filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15). Note: Authority cited: Sections 215, 866.5 and 866.6, Financial Code; and Section 4213, California Uniform Commercial Code. Reference: Sections 866.5 and 866.6, Financial Code; and Section 4213, California Uniform Commercial Code.
1. Repealer and new section filed 10-17-88 as an emergency; operative 10-17-88 (Register 88, No. 45). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 2-14-89.
2. Certificate of Compliance including amendment transmitted to OAL 2-10-89 and filed 3-13-89 (Register 89, No. 11).
3. Amendment filed 4-7-97; operative 4-7-97 pursuant to Government Code section 11343.4(d) (Register 97, No. 15).