Withdrawable accounts shall be:
(1) Withdrawable upon demand, subject to the requisite advance notice to the association by the holder, as listed in G.S. 54B-121(c)(2)b and by such regulations as the Commissioner of Banks may prescribe;
(2) Entitled to dividends as provided herein or in such regulations as the Commissioner of Banks may prescribe;
(3) Evidenced by an executed contract setting forth any special terms and provisions applicable to the account and the conditions upon which withdrawal may be made. The form of such contract shall be subject to the prior approval of the Commissioner of Banks and shall be held by the association as part of its records pertaining to the account. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 13; 2001-193, s. 16.)
Sections: Previous 54B-105 54B-106 54B-107 54B-108 54B-109 54B-110 54B-121 54B-122 54B-123 54B-124 54B-125 54B-126 54B-127 54B-128 54B-129 Next
Last modified: March 23, 2014