1. (a) A member of a savings and loan association means a holder, as shown on the association's records, of:

   1. (1) One or more savings accounts, as to a mutual association; and
   2. (2) One or more shares of capital stock, as to a capital stock association.

2. (b)

   1. (1) Multiple holders of a single account or share of capital stock shall be considered a single member.
   2. (2) Notice to one holder of a multiple name account or share of capital stock is sufficient notice to all holders.

Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986.