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2017 California Code
Financial Code - FIN
DIVISION 19 - RELEASE OF DEMAND DEPOSIT FUNDS
Section 40500.
Universal Citation: CA Fin Code § 40500 (2017)
40500.
It is the intent of the Legislature that a financial institution shall not transfer funds from a depositor’s account unless authorization has been granted by that depositor. This division is declaratory of existing case law and is intended to codify the law for the convenience of the public, regulatory authorities, and financial institutions.
(Added by Stats. 1985, Ch. 1057, Sec. 1.)
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