Cal. Gov. Code § 95508

Current through the 2023 Legislative Session.

Section 95508 - Duties of financial institutions in which account established

The financial institution in which an individual development account is established shall:

(a) Have no greater duties or responsibilities as to an individual development account than it has to any other savings account.

(b) Have no duty or responsibility to any withdrawal restriction established in the contract between the participant and the service provider.

Ca. Gov. Code § 95508

Added by Stats 2002 ch 1024 (AB 692),s 2, eff. 1/1/2003.