California Code of Regulations
Title 2 - Administration
Division 4.5 - Local Agency Deposit Security
Chapter 2 - Administrator of Local Agency Security
Subchapter 1 - General Provisions
Article 5 - Miscellaneous
Section 16001.5.13 - Uncollected Funds

Universal Citation: 2 CA Code of Regs 16001.5.13

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

For purposes of Government Code Section 53652 and this Chapter, any item (other than cash) deposited with a depositary shall be deemed to be uncollected funds, as follows:

(a) In case the item is a check or draft which is drawn on, payable at, or payable through an office of a bank located in this State or a warrant drawn by a governmental agency located in this State, for the period to and including the second business day after the day of deposit. (For example, if the item is deposited on Monday, it will be uncollected funds to and including the following Wednesday.)

(b) In the case of any other item, for the period to and including the fourth business day after the day of deposit. (For example, if the item is deposited on Monday, it will be uncollected funds to and including the following Friday.)

1. New section filed 7-16-80; effective thirtieth day thereafter (Register 80, No. 29).

Note: Authority cited: Section 53661, Government Code. Reference: Section 53652, Government Code.

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