California Code of Regulations
Title 2 - Administration
Division 4.5 - Local Agency Deposit Security
Chapter 2 - Administrator of Local Agency Security
Subchapter 9 - Default of Depository
Article 2 - Demand for Payment
Section 16009.2.5 - Demand for Payment-Presentment to Depository
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Unless the deposit contract provides otherwise:
(a) A demand for payment shall be deemed to be presented to a depository when delivered to any officer or employee of such depository at the office of such depository where the local agency deposit is maintained; provided, however, that if such delivery occurs after the close of business hours of such office, then such demand for payment shall be deemed to be presented to the depository on the next succeeding day which is not a holiday.
(b) A demand for payment, if delivered to any officer or employee of a depository at any office of such depository other than the office where the local agency deposit is maintained, shall be deemed to be presented to such depository on the next succeeding day which is not a holiday.
