California § 16632 - The contracts covering deposits shall provide that the interest to be paid by the
Full text of California Public Contract Code - PCC § 16632 — The contracts covering deposits shall provide that the interest to be paid by the, with citation guidance and answers to common questions.
§ 16632. The contracts covering deposits shall provide that the interest to be paid by the
The contracts covering deposits shall provide that the interest to be paid by the savings and loan association or credit union shall be paid upon the expiration of the certificate or certificates of deposit issued as a part of the contract. The contract may also provide for periodic interest payments during the term of the deposit. The contract governing deposits shall also provide that the amounts of interest shall be reported by the savings and loan association or credit union at the time of payment of the interest, by statement showing the balances or amounts of money of the state held by the association or credit union during the period and the amount of accrued interest thereon.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 16632
What does Public Contract Code - PCC § 16632 cover?
Section 16632 ("The contracts covering deposits shall provide that the interest to be paid by the") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 16632?
A common citation format is "Public Contract Code - PCC § 16632" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 16632 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.