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California Code, Financial Code - FIN § 1425

Current as of January 01, 2023 | Updated by FindLaw Staff

Pursuant to Section 1424, the commissioner shall promulgate regulations which shall be reviewed annually to establish a reasonable period of time within which a depository institution must permit a customer to draw as a matter of right on an item which has been received for deposit in the customer's account.

In determining what constitutes a reasonable period of time the commissioner shall consider the following factors:

(a) The actual time for processing and transport between the depository and payer institutions.

(b) The fastest air transport time between depository and payer institutions to be used for purposes of setting the reasonable time for transport.

(c) The most expeditious route and means for processing of returned items.

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Cite this article: FindLaw.com - California Code, Financial Code - FIN § 1425 - last updated January 01, 2023 | https://codes.findlaw.com/ca/financial-code/fin-sect-1425/

Read this complete California Code, Financial Code - FIN § 1425 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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