Cal. Code Civ. Proc. § 995.740

Current through the 2023 Legislative Session.

Section 995.740 - Payment of interest or delivery of interest coupons upon demand

If no proceedings are pending to enforce the liability of the principal on the deposit, the officer shall:

(a) Pay quarterly, on demand, any interest on the deposit, when earned in accordance with the terms of the account or certificate, to the principal.

(b) Deliver to the principal, on demand, any interest coupons attached to bonds or notes, including bearer bonds and bearer notes, as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.

Ca. Civ. Proc. Code § 995.740

Amended by Stats 2014 ch 305 (AB 1856),s 3, eff. 1/1/2015.