§ 32.32.205. Reduction of subaccount balance
If the deposit balance in any savings account of an eligible account holder or supplemental eligible account holder at the close of business on any annual closing date subsequent to the respective record dates is less than the lesser of (1) the deposit balance in the savings account at the close of business on any other annual closing date subsequent to the eligibility record date or (2) the amount of qualifying deposit as of the eligibility record date or the supplemental eligibility record date, the subaccount balance for the savings account shall be adjusted by reducing the subaccount balance in an amount proportionate to the reduction in the deposit balance. In the event of such a downward adjustment, the subaccount balance shall not be subsequently increased, notwithstanding any increase in the deposit balance of the related savings account. If any such savings account is closed, the related subaccount balance shall be reduced to zero.
[1981 c 85 § 40.]
Sections: Previous 32.32.170 32.32.175 32.32.180 32.32.185 32.32.190 32.32.195 32.32.200 32.32.205 32.32.210 32.32.215 32.32.220 32.32.222 32.32.225 32.32.228 32.32.230 NextLast modified: April 7, 2009