California Legal Codes and Statutes

§ 53645

Amended by Stats. 1992, Ch. 523, Sec. 5.3. Effective January 1, 1993.

Interest shall be computed and paid by the depository, as follows:

(a)For active deposits upon which interest is payable, interest shall be computed on the average daily balance for the calendar quarter, and shall be paid quarterly.
(b)For inactive deposits, interest shall be computed on a 360-day basis, and shall be paid quarterly.

Cite this section

Cal. Gov. Code § 53645 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-4-financial-affairs/article-2-deposit-of-funds/section-53645

Other sections in Article 2 - Deposit of Funds

§ 53630§ 53630.1§ 53630.5§ 53631§ 53632§ 53632.5§ 53633§ 53634§ 53635§ 53635.2…§ 53676§ 53678§ 53679§ 53679.1§ 53680§ 53681§ 53682§ 53683§ 53684§ 53686

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