California Statutes
§ 2453.5. — 2453.5. (Enacted by Stats. 1990, Ch. 79.)
California·Code PROB Probate Code - PROB·Div. 4. DIVISION 4. GUARDIANSHIP, CONSERVATORSHIP, AND OTHER PROTECTIVE PROCEEDINGS·Part 4. PART 4. PROVISIONS COMMON TO GUARDIANSHIP AND CONSERVATORSHIP·Ch. 6. CHAPTER 6. Powers and Duties of Guardian or Conservator of the Estate·Art. 4. ARTICLE 4. Estate Management Powers Generally
(a)Subject to subdivision (b), where a trust company is a guardian or conservator and in the exercise of reasonable judgment deposits money of the estate in an account in any department of the corporation or association of which it is a part, it is chargeable with interest thereon at the rate of interest prevailing among banks of the locality on such deposits.
(b)Where it is to the advantage of the estate, the amount of cash that is reasonably necessary for orderly administration of the estate may be deposited in a checking account that does not bear interest which is maintained in a department of the corporation or association of which the trust company is a party.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 2453.5. (2453.5. (Enacted by Stats. 1990, Ch. 79.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Stats. 1990, Ch. 79.