Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
50 lines
2.2 KiB
Markdown
50 lines
2.2 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 4005"
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description: "Payment of interest"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "41"
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chapter_name: "EXPEDITED FUNDS AVAILABILITY"
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section: "4005"
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citation: "12 U.S.C. § 4005"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s4005"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "03cb7c6443113928e798d31ceee6b12c903f3e84a34e9ec9e84f909fa611b8fb"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "0dd84e7405054f4d0dc92af72f4bade151594cdfa81d8e6dbe1206c607b06b70"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 4005 - Payment of interest
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## Text
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(a) In general Except as provided in subsection (b) or (c) and notwithstanding any other provision of law, interest shall accrue on funds deposited in an interest-bearing account at a depository institution beginning not later than the business day on which the depository institution receives provisional credit for such funds.
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(b) Special rule for credit unions Subsection (a) shall not apply to an account at a depository institution described in section 461(b)(1)(A)(iv) of this title if the depository institution—
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(1) begins the accrual of interest or dividends at a later date than the date described in subsection (a) with respect to all funds, including cash, deposited in such account; and
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(2) provides notice of the interest payment policy in the manner required under section 4004(e) of this title.
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(c) Exception for checks returned unpaid No provision of this chapter shall be construed as requiring the payment of interest or dividends on funds deposited by a check which is returned unpaid.
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(Pub. L. 100–86, title VI, § 606, Aug. 10, 1987, 101 Stat. 646.)
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## Notes
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Statutory Notes and Related Subsidiaries
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Effective DateSection effective Sept. 1, 1988, see section 613(b) of Pub. L. 100–86, set out as a note under section 4001 of this title.
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