Section 30.101 - Delayed Funds Availability(a) In this Section: (1) "Credit union" means any of the following: (A) A credit union organized under the laws of California.(B) A federal credit union with its home office or a branch office in California.(C) A credit union organized under the laws of a state other than California that maintains a branch office in California.(2) "Deposit account" means a deposit account as defined in Section 866(b) of the Financial Code, and includes a share account and a share draft account, but does not include a share account with a stated maturity.(3) "Item" means "check" as defined in 12 C.F.R. 229.2(k).(b) A credit union shall make an item received for deposit into a deposit account that is maintained in a California office of the credit union available for withdrawal in accordance with Regulation CC ( 12 C.F.R. Part 229) of the Board of Governors of the Federal Reserve System.(c) The time period within which an item is required to be made available for withdrawal pursuant to Regulation CC shall be deemed to be the reasonable time by which a credit union must permit a depositor to draw on an item deposited into a deposit account for the purposes of Sections 866.5 and 866.6 of the Financial Code.Cal. Code Regs. Tit. 10, § 30.101
1. Change without regulatory effect renumbering and amending former section 901 to new section 30.101 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Repealer and new section and amendment of NOTE filed 2-27-2003; operative 3-29-2003 (Register 2003, No. 9). Note: Authority cited: Sections 215, 866.5 and 866.6, Financial Code. Reference: Sections 866.5 and 866.6, Financial Code; and Chapter 41 (commencing with Section 4001) of Title 12 of the United States Code; Part 229 (commencing with Section 229.1) of Title12 of the Code of Federal Regulations.
1. Change without regulatory effect renumbering and amending former section 901 to new section 30.101 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Repealer and new section and amendment of Note filed 2-27-2003; operative 3-29-2003 (Register 2003, No. 9).