§ 54B-126 – Forced retirement of withdrawable accounts.
54B-126. Forced retirement of withdrawable accounts. (a) At any time that funds may be on hand and available for such a purpose, and the bylaws of an association and withdrawable account contracts so provide, an association shall have the authority and right to redeem all or any portion of its withdrawable accounts which have not […]
§ 54B-127 – Negotiable orders of withdrawal.
54B-127. Negotiable orders of withdrawal. Notwithstanding any other provisions of law, the Commissioner of Banks shall by regulation, authorize associations to accept deposits to withdrawable accounts which may be withdrawn or transferred on or by negotiable or transferable order or authorization to the association. (1981, c. 282, s. 3; 2001-193, s. 16.)
§ 54B-128 – Option on nonnegotiable orders of withdrawal.
54B-128. Option on nonnegotiable orders of withdrawal. Notwithstanding any other provisions of law, the Commissioner of Banks may by regulation authorize State associations to establish nonnegotiable orders or authorizations of withdrawal. (1981, c. 282, s. 3; 2001-193, s. 16.)
§ 54B-129 – Joint accounts.
54B-129. Joint accounts. (a) Any two or more persons may open or hold a withdrawable account or accounts. The withdrawable account and any balance thereof shall be held by them as joint tenants, with or without right of survivorship, as the contract shall provide; the account may also be held pursuant to G.S. 41-2.1 and […]
§ 54B-130.1 – Payable on Death (POD) accounts.
54B-130.1. Payable on Death (POD) accounts. (a) If any natural person or natural persons establishing a deposit account shall execute a written agreement with the association containing a statement that it is executed pursuant to the provisions of this section and providing for the account to be held in the name of the natural person […]
§ 54B-121 – Creation of withdrawable accounts.
54B-121. Creation of withdrawable accounts. (a) Every State association shall be authorized to raise capital through the solicitation of investments from any person, natural or corporate, except as restricted or limited by law, or by such regulations as the Commissioner of Banks may prescribe. (b) Such funds obtained through the solicitation of investments shall be […]
§ 54B-122 – Additional requirements.
54B-122. Additional requirements. 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 […]
§ 54B-123 – Dividends on withdrawable accounts.
54B-123. Dividends on withdrawable accounts. (a) An association shall compute and pay dividends on withdrawable accounts in accordance with such terms and conditions as are herein prescribed, and subject to additional limitation and restrictions as shall be set forth in its bylaws, or certificate of incorporation and resolutions of its board of directors. (b) Notwithstanding […]