California § 12300.5. 12300.5. (Added by Stats. 1963, Ch. 1817.)

California Statutes

§ 12300.5. — 12300.5. (Added by Stats. 1963, Ch. 1817.)

California § 12300.5.

Code FINFinancial Code - FIN

Div. 3.DIVISION 3. CHECK SELLERS, BILL PAYERS, AND PRORATERS

Ch. 4.CHAPTER 4. Licensee Regulations

This text of California § 12300.5. (12300.5. (Added by Stats. 1963, Ch. 1817.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Financial Code - FIN Code § 12300.5. (2026).

Text

An amount equal to all such funds received by a licensee shall be separated from the funds of the licensee and deposited in its trust account not later than the end of the next business day following receipt by such licensee. All such funds shall thereafter remain in such trust account and may be used for no purpose other than paying bills of said persons, or paying checks, drafts, money orders, or other commercial paper sold by the licensee except as otherwise provided in Section 12300.6.

Free access — add to your briefcase to read the full text and ask questions with AI

An amount equal to all such funds received by a licensee shall be separated from the funds of the licensee and deposited in its trust account not later than the end of the next business day following receipt by such licensee. All such funds shall thereafter remain in such trust account and may be used for no purpose other than paying bills of said persons, or paying checks, drafts, money orders, or other commercial paper sold by the licensee except as otherwise provided in Section 12300.6.