Section 16630 Of Article 4. Contracts From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 4.5. >> Article 4.

. The Treasurer shall enter into contracts with savings and loan associations as in his or her judgment will be to the public advantage so to do. The contracts shall fix the duration of deposits and the rates of interest to be received, if any, the interest payment date, and provide conditions for their withdrawal, repayment, and security.