- A. Funds in share accounts and deposit accounts may be withdrawn for payment to the account holder or to third parties, in a manner and in accordance with procedures established by the board of directors subject to any regulations or orders the director prescribes.
- B. Share accounts and deposit accounts shall be subject to any withdrawal notice requirement which is imposed pursuant to the bylaws; however, in the case of shares, not more than sixty days, and in the case of deposits, not more than thirty days notice may be required.
- C. A membership share may not be redeemed or withdrawn except upon termination of membership in the credit union.
History: Laws 1987, ch. 311, § 41.
ANNOTATIONS
Laws 1997, ch. 195, § 42 repeals Laws 1987, ch. 311, § 68, which had provided for the repeal of this section on July 1, 1997.