6-437. Enforced retirement of accounts
A. The board of directors, when authorized by the by-laws, and in conformity with
the provisions of this section and of the by-laws, may retire on any dividend payment
date any accounts, which have not been pledged as security for loans, by enforcing the
retirement thereof.
B. Thirty days' prior written notice of such enforced retirement shall be given to
the holder of an account to be retired and the holder shall not be entitled to further
dividends after the dividend payment date on which such account is to be retired, but
such holder shall be paid the full withdrawal value of his account plus the dividend
apportioned thereto as of the date fixed for retirement. All accounts upon which
applications for voluntary withdrawal have been received, and all shares which have
matured, shall be paid first in accordance with the provisions of this article.
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