§412:10-310 Dormant accounts. (a) If there has been no activity on a share or deposit account for one year, the credit union may impose a reasonable maintenance fee.
(b) Share and deposit accounts, dividends, interest and other sums due or standing in the name of a member or other person and held by the credit union are presumed abandoned unless the member or other person has, within five years:
(1) Increased or decreased the amount of the funds or presented an appropriate record for the crediting of dividends or interest;
(2) Corresponded in writing with the credit union concerning the funds; or
(3) Otherwise indicated an interest in the funds as evidenced by a memorandum on file with the credit union. [L 1993, c 350, pt of §1]
Section: Previous 412-10-303 412-10-304 412-10-305 412-10-306 412-10-307 412-10-308 412-10-309 412-10-310 412-10-400 412-10-401 412-10-402 412-10-403 412-10-404 412-10-405 412-10-406 NextLast modified: October 27, 2016