California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 14 — Of Miscellaneous Provisions, Chapter 2 — Bonds and Undertakings, Article 7 — Deposit in Lieu of Bond, Section 995.740
If no proceedings are pending to enforce the liability of the principal on the deposit, the officer shall:
(a) Pay quarterly, on demand, any interest on the deposit, when earned in accordance with the terms of the account or certificate, to the principal.
(b) Deliver to the principal, on demand, any interest coupons attached to bonds or notes, including bearer bonds and bearer notes, as the interest coupons become due and payable, or pay annually any interest payable on the bonds or notes.
Notes
Requires an officer, when no proceeding is pending to enforce the principal’s liability on a deposit, to pay earned account or certificate interest to the principal quarterly on demand. Also requires delivery of due bond or note interest coupons on demand, or annual payment of interest payable on the bonds or notes.
Use as reference
Lexinter.net | California Code, Code of Civil Procedure - CCP § 995.740 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-14/chapter-2/article-7/section-995-740