40500. It is the intent of the Legislature that a financial institution shall not transfer funds from a depositor’s account unless authorization has been granted by that depositor. This division is declaratory of existing case law and is intended to codify the law for the convenience of the public, regulatory authorities, and financial institutions.(Added by Stats. 1985, Ch. 1057, Sec. 1.)
California Legal Code
§ 40500
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=19.&title=&part=&chapter=&article=· Version 2026