Section 1422 Of Article 2. Disclosure Of Delayed Availability Policy From California Financial Code >> Division 1.1. >> Chapter 12. >> Article 2.
1422
. For the purposes of computing the amount of interest or
dividends payable with respect to an interest-bearing deposit
account, a depository institution shall not delay beginning to
compute interest on funds deposited by check or similar instrument to
such an account beyond the date on which that depository institution
receives provisional credit for the check or similar instrument.
However, the payment of interest with respect to funds deposited by
check or similar instrument which is returned unpaid shall not be
required.