§ 390.299. Nonwithdrawable account.
70 words·~1 min read·
/us/cfr/t12/s§ 390.299·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The term nonwithdrawable account means an account which by the terms of the contract of the accountholder with the State savings association or by provisions of state law cannot be paid to the accountholder until all liabilities, including other classes of share liability of the State savings association have been fully liquidated and paid upon the winding up of the State savings association is referred to as a nonwithdrawable account.