Current through Register Vol. 54, No. 45, November 9, 2024
Section 33.2 - Effect of conversion(a) After the effective date of the adoption of bylaw amendments providing for deposit operations, associations shall not accept savings accounts other than savings deposits, but savings accounts existing at the time when the association becomes a deposit association shall remain savings accounts unless they are exchanged for savings deposits.(b) Deposit associations shall have the right to use all of the savings account plans available to savings account associations. Savings accounts in deposit associations shall have the same priority as deposits in the event of a liquidation.