Jurris.COM
Section 2453.5 Of Article 4. Estate Management Powers Generally From California Probate Code >> Division 4. >> Part 4. >> Chapter 6. >> Article 4.
2453.5
. (a) Subject to subdivision (b), where a trust company is a
guardian or conservator and in the exercise of reasonable judgment
deposits money of the estate in an account in any department of the
corporation or association of which it is a part, it is chargeable
with interest thereon at the rate of interest prevailing among banks
of the locality on such deposits.
(b) Where it is to the advantage of the estate, the amount of cash that is reasonably necessary for orderly administration of the estate may be deposited in a checking account that does not bear interest which is maintained in a department of the corporation or association of which the trust company is a party.
(b) Where it is to the advantage of the estate, the amount of cash that is reasonably necessary for orderly administration of the estate may be deposited in a checking account that does not bear interest which is maintained in a department of the corporation or association of which the trust company is a party.
