HOA Homefront: Is a bank out of state OK for our HOA deposits? (CA)

/ Owner - December 28, 2024

Q: Our HOA has their bank accounts with an online bank. Our payments are mailed to a postbox address outside California. I contacted the bank, and they were unable to provide a physical branch address in California. Civil Code 5380 requires the HOA to deposit HOA funds in a bank account in the State of California is it not?   Read the Q&A………………………………..

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