The redemption price of savings accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in no event shall the redemption price be less than the withdrawal value.
Cal. Fin. Code § 7152
Redemption
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Repealed and added by Stats. 1983, Ch. 1091, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.