§ 995.740 Interest on deposit

Codes > California Code of Civil Procedure > Part 2 > Title 14 > 995.740

§ 995.740. Interest on deposit

    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 bearer bonds or bearer notes as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.