§ 7.1018. National bank automatic payment plan accounts.
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/us/cfr/t12/s§ 7.1018·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A national bank may, for the benefit and convenience of its savings depositors, adopt an automatic payment plan under which a savings account will earn dividends at the current rate paid on regular savings accounts. The depositor, upon reaching a previously designated age, receives his or her accumulated savings and earned interest in installments of equal amounts over a specified period.