(1) An account holder may withdraw part or all of the funds of the account holder subject to the terms applicable to the savings account of the account holder.
(2) The Director of the Department of Consumer and Business Services shall prescribe by rule:
(a) The maximum penalty that may be applied by an association for premature withdrawal from a savings account; and
(b) The conditions under which the penalty may be applied.
(3) An account holder may withdraw all or part of the account pledged as security for any purpose only in accordance with the terms of the pledge. [1975 c.582 §85]
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