Article 5. Miscellaneous of California Financial Code >> Division 1.1. >> Chapter 14. >> Article 5.
Whenever the public administrator becomes the administrator
of the estate of a decedent who at the time of his death left money
on deposit with a commercial bank, the public administrator may allow
such deposit to remain in the commercial bank and may deposit
therein to the account of the decedent any moneys of said estate not
required for current expenses of administration, and in such cases
the public administrator need not deposit the same with the county
treasurer. Moneys so deposited, whether by the decedent or by the
public administrator, may be withdrawn upon the order of the public
administrator countersigned by a judge of the superior court when
required for the purpose of administration or otherwise.
A commercial bank accepting savings deposits shall provide by
its bylaws or by contract with its savings depositors the time and
condition on which repayment is to be made to such depositors. The
bank shall not waive any requirement of notice before payment of any
savings deposit except as to all savings deposits.
Whenever there is any call by savings depositors for repayment of
a greater amount than the bank may have disposable for that purpose,
the bank must not make any new loan or investment until such excess
call has ceased.
For the purposes of any law authorizing or providing for the
deposit of funds with a savings bank, a commercial bank accepting
savings deposits shall be deemed a savings bank.