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2025 California Code
Financial Code - FIN
DIVISION 2 - SAVINGS ASSOCIATION LAW
CHAPTER 5 - Savings Operations
ARTICLE 2 - Savings Accounts
Section 6653.
Universal Citation:
CA Fin Code § 6653 (2025)
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6653. (a) No association shall, directly or indirectly, for the opening or increasing of any savings account, give, sell, dispose of, or permit the giving, selling, or disposition of, for any one opening or increase anything having a cost or value in excess of the amount authorized by the commissioner by regulation.
(b) Notwithstanding subdivision (a) the commissioner is authorized to impose by regulation restrictions on associations, relating to the distribution and advertising of giveaways, equivalent to those imposed on federal associations doing business in this state.
(Added by Stats. 1983, Ch. 1091, Sec. 2.)
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