17-5563. Credit to borrowers.
17-5563
17-5563. Credit to borrowers.
In the event of reorganization, liquidation, conversion, merger, or bulk
sale of assets of any association, any borrowing member having received a
loan or advance from the association shall be given credit upon such loan
or advance for the amount standing to the credit of his shares on the books
of the association at the time of such reorganization, liquidation,
conversion, merger, or bulk sale of assets.
History: L. 1943, ch. 133, § 141; July 1.