Section 7150 Of Article 13. Redemption From California Financial Code >> Division 2. >> Chapter 5. >> Article 13.

. At any time funds are on hand for the purpose, an association shall have the right to redeem by lot or otherwise, as the board of directors may determine, all or any part of any of its savings accounts on an interest date by giving 30 days' notice by registered mail addressed to each affected account holder at the holder's last address as recorded on the books of the association.