§ 161.16. Demand accounts.
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/us/cfr/t12/s§ 161.16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The term demand accounts means non-interest-bearing demand deposits that are subject to check or to withdrawal or transfer on negotiable or transferable order to the savings association and that are permitted to be issued by statute, regulation, or otherwise and are payable on demand.