(a) The terms"building and loan association" and "savings and loanassociation" when used in the General Statutes, shall mean an associationand shall be interchangeable. Use of either term shall be construed to includethe other unless a different intention is expressly provided.
(b) As used in thisChapter, unless the context otherwise requires, the term:
(1) Repealed by SessionLaws 2001‑193, s. 3.
(2) "Aggregatewithdrawal value of withdrawable accounts" means the total value of allwithdrawable accounts held by an association.
(3) "Application"means the completed package of the application to organize a State association,establish a branch office or conversion of structure of a savings and loanassociation which the Commissioner of Banks considers in making hisrecommendation.
(3a) "Affiliate"means a person or corporation that controls, is controlled by, or is undercommon control with an association.
(4) "Associate"when used to indicate a relationship with any person, means (i) any corporationor organization (other than the applicant or a majority‑owned subsidiaryof the applicant) of which such person is an officer or partner or is, directlyor indirectly, the beneficial owner of ten percent (10%) or more of any classof equity securities, (ii) any trust or other estate in which such person has asubstantial beneficial interest or as to which such person serves as trustee orin a similar fiduciary capacity, and (iii) any relative or spouse who lives inthe same house as that person, or any relative of that person's spouse wholives in the same house as that person, or who is a director or officer of theapplicant or any of its parents or subsidiaries.
(5) "Association"includes a State association or a federal association unless limited by use ofthe words "State" or "federal."
(6) "Borrowers"means those who borrow funds from or in any other way become obligated on aloan to an association.
(7) "Branchoffice" means an office of an association other than its principal officewhich renders savings and loan services.
(8) "Capitalstock" means securities which represent ownership of a stock association.
(9) "Certificate ofapproval" means a document signed by the Commissioner of Banks informingthe North Carolina Secretary of State that the Commission has approved thecertificate of incorporation of a proposed association.
(10) Repealed by SessionLaws 1985, c. 659, s. 1.
(11) "Certificate ofincorporation or charter" means the document which represents thecorporate existence of a State association.
(12) "Certifiedcopy" means a copy of an original document or paper which has been signedby the person or persons who certify such document to be an exact copy of theoriginal.
(13) "ThisChapter" means Chapter 54B of the North Carolina General Statutes.
(14) "Commission"means the State Banking Commission of the Department of Commerce.
(14a) "Commissioner"means the Commissioner of Banks authorized pursuant to G.S. 53‑92.
(15) "Conflict ofinterest" means a matter before the board of directors in which one ormore of the directors, officers or employees has a direct or indirect financialinterest in its outcome.
(16) "Conformedcopies" means photocopies or carbon copies or other mechanicalreproductions of an original document or paper.
(16a) "Control"means the power, directly or indirectly, to direct the management or policiesof an association or to vote twenty‑five percent (25%) or more of anyclass of voting securities for an association.
(17) "Court of competentjurisdiction" means a court in North Carolina which is qualified to hearthe case at hand.
(18) "Disinteresteddirectors" means those directors who have absolutely no direct or indirectfinancial interest in the matter before them.
(19) "Dividends onstock" means the earnings of an association paid out to holders of capitalstock in a stock association.
(20) "Dividends onwithdrawable accounts" means the consideration paid by an association to aholder of a withdrawable account for the use of his money.
(21) "Division"means the Savings Institutions Division of the North Carolina Department ofCommerce.
(22) "Entrance feeper withdrawable account" means the amount to be paid by each person, firmor corporation when he or it pledges to a proposed mutual association todeposit funds in a withdrawable account.
(23) "Examination andinvestigation" means a supervisory inspection of an association orproposed association which may include inspection of every relevant piece ofinformation including subsidiary or affiliated businesses.
(24) "Federalassociation" means a corporation or association organized and operatedunder the provisions of federal law and regulation to conduct a savings andloan business.
(25) "Financialinstitution" means a person, firm or corporation engaged in the businessof receiving, soliciting or accepting money or its equivalent on deposit and/orlending money or its equivalent.
(26) Repealed by SessionLaws 1985, c. 659, s. 1.
(27) "Generalreserve" means appropriated or restricted funds in the form of cash orinvestments to be used solely for the purpose of absorbing losses.
(28) "Guarantyassociation" means a mutual deposit guaranty association which is acorporation organized under this Chapter or its predecessor and operated under theprovisions of Article 12 of this Chapter.
(29) "Immediatefamily" means one's spouse, father, mother, children, brothers, sisters,and grandchildren; and the father, mother, brothers, and sisters of one'sspouse; and the spouse of one's child, brother or sister.
(30) "Initial pledgesfor withdrawable accounts" means those pledges of funds by persons whopromise to a proposed mutual association to deposit such amount if and whensuch proposed association becomes established.
(31) "Insurance ofwithdrawable accounts" means insurance on an association's withdrawableaccounts when the beneficiary is the holder of such insured account.
(32) "Liquidityfund" means that portion of the assets of an association which is requiredto be held in readily marketable form.
(32a) "Interimassociation" means an association formed to facilitate the acquisition ofone hundred percent (100%) of the voting shares of an existing stockassociation by a newly‑formed association or an existing savings and loanholding company or to facilitate any other transaction the Commissioner ofBanks may approve.
(33) "Members"means withdrawable account holders and borrowers in a State mutual association.
(34) "Minimum amountof consideration" means the amount of money a stock association shall berequired to have received on the sale of its stock, before it shall commencebusiness.
(35) "Minimum amounton deposit in withdrawable accounts" means the amount of money which amutual association must have on hand prior to its commencement of business.
(36) "Mutualassociation" means all mutual savings and loan associations owned bymembers of the association, and organized under the provisions of this Chapteror its predecessor for the primary purpose of promoting thrift and homefinancing.
(37) "Net withdrawalvalue of withdrawable accounts" means the aggregate of the withdrawalvalue of an association's withdrawable accounts less the amount of any pledgedwithdrawable account which serves as security for a loan.
(38) "Net worth"means an association's total assets less total liabilities.
(39) "Originalincorporators" means the organizers of a State association responsible forthe business of a proposed association from the filing of the application tothe Commission's final decision on such application.
(40) "Plan ofconversion" means a detailed outline of the procedure of the conversion ofan association from one to another regulatory authority or from one to anotherform of ownership.
(41) "Principaloffice" means the office which houses the headquarters of an association.
(42) "Proposedassociation" means an entity in organizational procedures prior to theCommission's final decision on its charter application.
(43) "Registeredagent" means the person named in the certificate of incorporation uponwhom service of legal process shall be deemed binding upon the association.
(44) "Rules andregulations" means those regulatory procedures and guidelines issued bythe Commissioner of Banks and approved by the Commission.
(44a) Repealed by SessionLaws 1991, c. 680, s. 2.
(45) "Servicecorporation" means a corporation operating under the provision of Article8 of this Chapter which engages in activities determined by the Commissioner ofBanks by rules and regulations to be incidental to the conduct of a savings andloan business as provided in this Chapter or activities which further orfacilitate the corporate purposes of an association, or which furnishesservices to an association or subsidiaries of an association, the voting stockof which is owned directly or indirectly by one or more associations.
(46) "Specificreserve account" means an account held by an association as a loss reservefor coverage on specific loans and investments.
(47) "ThisState" means the State of North Carolina.
(48) "State association"means a corporation or association organized under this Chapter or itspredecessor and operated under the provisions of this Chapter to conduct thesavings and loan business; or a corporation organized under the provisions ofthe predecessors to this Chapter and operated under the provisions of thisChapter; or a corporation organized under the provisions of federal law and soconverted as to be operated under the provisions of this Chapter.
(49) "Stockassociation" means any corporation or company owned by holders of capitalstock and organized under the provisions of this Chapter for the primarypurpose of promoting thrift and home financing.
(50) "Subscriptions"means the promise to purchase capital stock in a stock association and paymentof a portion of the selling price.
(51) "Totalassets" means the aggregate amount of assets of any and every kind held byan association.
(52) "Voluntarydissolution" means the dissolution and liquidation of an associationinitiated by its ownership.
(53) "Withdrawableaccounts" means accounts in which a customer or member places funds withan association which may be withdrawn by the account holder.
(54) Repealed by SessionLaws 1989, c. 76, s. 1. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 1; 1983, c.144, ss. 1, 2; 1985, c. 659, ss. 1, 9(a); c. 677, s. 1; 1989, c. 76, s. 1; c.751, s. 7(3); 1991, c. 680, s. 2; 1991 (Reg. Sess., 1992), c. 829, s. 1; c.959, ss. 5, 5.1; 2001‑193, ss. 3, 4, 17.)
(a) The terms"building and loan association" and "savings and loanassociation" when used in the General Statutes, shall mean an associationand shall be interchangeable. Use of either term shall be construed to includethe other unless a different intention is expressly provided.
(b) As used in thisChapter, unless the context otherwise requires, the term:
(1) Repealed by SessionLaws 2001‑193, s. 3.
(2) "Aggregatewithdrawal value of withdrawable accounts" means the total value of allwithdrawable accounts held by an association.
(3) "Application"means the completed package of the application to organize a State association,establish a branch office or conversion of structure of a savings and loanassociation which the Commissioner of Banks considers in making hisrecommendation.
(3a) "Affiliate"means a person or corporation that controls, is controlled by, or is undercommon control with an association.
(4) "Associate"when used to indicate a relationship with any person, means (i) any corporationor organization (other than the applicant or a majority‑owned subsidiaryof the applicant) of which such person is an officer or partner or is, directlyor indirectly, the beneficial owner of ten percent (10%) or more of any classof equity securities, (ii) any trust or other estate in which such person has asubstantial beneficial interest or as to which such person serves as trustee orin a similar fiduciary capacity, and (iii) any relative or spouse who lives inthe same house as that person, or any relative of that person's spouse wholives in the same house as that person, or who is a director or officer of theapplicant or any of its parents or subsidiaries.
(5) "Association"includes a State association or a federal association unless limited by use ofthe words "State" or "federal."
(6) "Borrowers"means those who borrow funds from or in any other way become obligated on aloan to an association.
(7) "Branchoffice" means an office of an association other than its principal officewhich renders savings and loan services.
(8) "Capitalstock" means securities which represent ownership of a stock association.
(9) "Certificate ofapproval" means a document signed by the Commissioner of Banks informingthe North Carolina Secretary of State that the Commission has approved thecertificate of incorporation of a proposed association.
(10) Repealed by SessionLaws 1985, c. 659, s. 1.
(11) "Certificate ofincorporation or charter" means the document which represents thecorporate existence of a State association.
(12) "Certifiedcopy" means a copy of an original document or paper which has been signedby the person or persons who certify such document to be an exact copy of theoriginal.
(13) "ThisChapter" means Chapter 54B of the North Carolina General Statutes.
(14) "Commission"means the State Banking Commission of the Department of Commerce.
(14a) "Commissioner"means the Commissioner of Banks authorized pursuant to G.S. 53‑92.
(15) "Conflict ofinterest" means a matter before the board of directors in which one ormore of the directors, officers or employees has a direct or indirect financialinterest in its outcome.
(16) "Conformedcopies" means photocopies or carbon copies or other mechanicalreproductions of an original document or paper.
(16a) "Control"means the power, directly or indirectly, to direct the management or policiesof an association or to vote twenty‑five percent (25%) or more of anyclass of voting securities for an association.
(17) "Court of competentjurisdiction" means a court in North Carolina which is qualified to hearthe case at hand.
(18) "Disinteresteddirectors" means those directors who have absolutely no direct or indirectfinancial interest in the matter before them.
(19) "Dividends onstock" means the earnings of an association paid out to holders of capitalstock in a stock association.
(20) "Dividends onwithdrawable accounts" means the consideration paid by an association to aholder of a withdrawable account for the use of his money.
(21) "Division"means the Savings Institutions Division of the North Carolina Department ofCommerce.
(22) "Entrance feeper withdrawable account" means the amount to be paid by each person, firmor corporation when he or it pledges to a proposed mutual association todeposit funds in a withdrawable account.
(23) "Examination andinvestigation" means a supervisory inspection of an association orproposed association which may include inspection of every relevant piece ofinformation including subsidiary or affiliated businesses.
(24) "Federalassociation" means a corporation or association organized and operatedunder the provisions of federal law and regulation to conduct a savings andloan business.
(25) "Financialinstitution" means a person, firm or corporation engaged in the businessof receiving, soliciting or accepting money or its equivalent on deposit and/orlending money or its equivalent.
(26) Repealed by SessionLaws 1985, c. 659, s. 1.
(27) "Generalreserve" means appropriated or restricted funds in the form of cash orinvestments to be used solely for the purpose of absorbing losses.
(28) "Guarantyassociation" means a mutual deposit guaranty association which is acorporation organized under this Chapter or its predecessor and operated under theprovisions of Article 12 of this Chapter.
(29) "Immediatefamily" means one's spouse, father, mother, children, brothers, sisters,and grandchildren; and the father, mother, brothers, and sisters of one'sspouse; and the spouse of one's child, brother or sister.
(30) "Initial pledgesfor withdrawable accounts" means those pledges of funds by persons whopromise to a proposed mutual association to deposit such amount if and whensuch proposed association becomes established.
(31) "Insurance ofwithdrawable accounts" means insurance on an association's withdrawableaccounts when the beneficiary is the holder of such insured account.
(32) "Liquidityfund" means that portion of the assets of an association which is requiredto be held in readily marketable form.
(32a) "Interimassociation" means an association formed to facilitate the acquisition ofone hundred percent (100%) of the voting shares of an existing stockassociation by a newly‑formed association or an existing savings and loanholding company or to facilitate any other transaction the Commissioner ofBanks may approve.
(33) "Members"means withdrawable account holders and borrowers in a State mutual association.
(34) "Minimum amountof consideration" means the amount of money a stock association shall berequired to have received on the sale of its stock, before it shall commencebusiness.
(35) "Minimum amounton deposit in withdrawable accounts" means the amount of money which amutual association must have on hand prior to its commencement of business.
(36) "Mutualassociation" means all mutual savings and loan associations owned bymembers of the association, and organized under the provisions of this Chapteror its predecessor for the primary purpose of promoting thrift and homefinancing.
(37) "Net withdrawalvalue of withdrawable accounts" means the aggregate of the withdrawalvalue of an association's withdrawable accounts less the amount of any pledgedwithdrawable account which serves as security for a loan.
(38) "Net worth"means an association's total assets less total liabilities.
(39) "Originalincorporators" means the organizers of a State association responsible forthe business of a proposed association from the filing of the application tothe Commission's final decision on such application.
(40) "Plan ofconversion" means a detailed outline of the procedure of the conversion ofan association from one to another regulatory authority or from one to anotherform of ownership.
(41) "Principaloffice" means the office which houses the headquarters of an association.
(42) "Proposedassociation" means an entity in organizational procedures prior to theCommission's final decision on its charter application.
(43) "Registeredagent" means the person named in the certificate of incorporation uponwhom service of legal process shall be deemed binding upon the association.
(44) "Rules andregulations" means those regulatory procedures and guidelines issued bythe Commissioner of Banks and approved by the Commission.
(44a) Repealed by SessionLaws 1991, c. 680, s. 2.
(45) "Servicecorporation" means a corporation operating under the provision of Article8 of this Chapter which engages in activities determined by the Commissioner ofBanks by rules and regulations to be incidental to the conduct of a savings andloan business as provided in this Chapter or activities which further orfacilitate the corporate purposes of an association, or which furnishesservices to an association or subsidiaries of an association, the voting stockof which is owned directly or indirectly by one or more associations.
(46) "Specificreserve account" means an account held by an association as a loss reservefor coverage on specific loans and investments.
(47) "ThisState" means the State of North Carolina.
(48) "State association"means a corporation or association organized under this Chapter or itspredecessor and operated under the provisions of this Chapter to conduct thesavings and loan business; or a corporation organized under the provisions ofthe predecessors to this Chapter and operated under the provisions of thisChapter; or a corporation organized under the provisions of federal law and soconverted as to be operated under the provisions of this Chapter.
(49) "Stockassociation" means any corporation or company owned by holders of capitalstock and organized under the provisions of this Chapter for the primarypurpose of promoting thrift and home financing.
(50) "Subscriptions"means the promise to purchase capital stock in a stock association and paymentof a portion of the selling price.
(51) "Totalassets" means the aggregate amount of assets of any and every kind held byan association.
(52) "Voluntarydissolution" means the dissolution and liquidation of an associationinitiated by its ownership.
(53) "Withdrawableaccounts" means accounts in which a customer or member places funds withan association which may be withdrawn by the account holder.
(54) Repealed by SessionLaws 1989, c. 76, s. 1. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 1; 1983, c.144, ss. 1, 2; 1985, c. 659, ss. 1, 9(a); c. 677, s. 1; 1989, c. 76, s. 1; c.751, s. 7(3); 1991, c. 680, s. 2; 1991 (Reg. Sess., 1992), c. 829, s. 1; c.959, ss. 5, 5.1; 2001‑193, ss. 3, 4, 17.)
(a) The terms"building and loan association" and "savings and loanassociation" when used in the General Statutes, shall mean an associationand shall be interchangeable. Use of either term shall be construed to includethe other unless a different intention is expressly provided.
(b) As used in thisChapter, unless the context otherwise requires, the term:
(1) Repealed by SessionLaws 2001‑193, s. 3.
(2) "Aggregatewithdrawal value of withdrawable accounts" means the total value of allwithdrawable accounts held by an association.
(3) "Application"means the completed package of the application to organize a State association,establish a branch office or conversion of structure of a savings and loanassociation which the Commissioner of Banks considers in making hisrecommendation.
(3a) "Affiliate"means a person or corporation that controls, is controlled by, or is undercommon control with an association.
(4) "Associate"when used to indicate a relationship with any person, means (i) any corporationor organization (other than the applicant or a majority‑owned subsidiaryof the applicant) of which such person is an officer or partner or is, directlyor indirectly, the beneficial owner of ten percent (10%) or more of any classof equity securities, (ii) any trust or other estate in which such person has asubstantial beneficial interest or as to which such person serves as trustee orin a similar fiduciary capacity, and (iii) any relative or spouse who lives inthe same house as that person, or any relative of that person's spouse wholives in the same house as that person, or who is a director or officer of theapplicant or any of its parents or subsidiaries.
(5) "Association"includes a State association or a federal association unless limited by use ofthe words "State" or "federal."
(6) "Borrowers"means those who borrow funds from or in any other way become obligated on aloan to an association.
(7) "Branchoffice" means an office of an association other than its principal officewhich renders savings and loan services.
(8) "Capitalstock" means securities which represent ownership of a stock association.
(9) "Certificate ofapproval" means a document signed by the Commissioner of Banks informingthe North Carolina Secretary of State that the Commission has approved thecertificate of incorporation of a proposed association.
(10) Repealed by SessionLaws 1985, c. 659, s. 1.
(11) "Certificate ofincorporation or charter" means the document which represents thecorporate existence of a State association.
(12) "Certifiedcopy" means a copy of an original document or paper which has been signedby the person or persons who certify such document to be an exact copy of theoriginal.
(13) "ThisChapter" means Chapter 54B of the North Carolina General Statutes.
(14) "Commission"means the State Banking Commission of the Department of Commerce.
(14a) "Commissioner"means the Commissioner of Banks authorized pursuant to G.S. 53‑92.
(15) "Conflict ofinterest" means a matter before the board of directors in which one ormore of the directors, officers or employees has a direct or indirect financialinterest in its outcome.
(16) "Conformedcopies" means photocopies or carbon copies or other mechanicalreproductions of an original document or paper.
(16a) "Control"means the power, directly or indirectly, to direct the management or policiesof an association or to vote twenty‑five percent (25%) or more of anyclass of voting securities for an association.
(17) "Court of competentjurisdiction" means a court in North Carolina which is qualified to hearthe case at hand.
(18) "Disinteresteddirectors" means those directors who have absolutely no direct or indirectfinancial interest in the matter before them.
(19) "Dividends onstock" means the earnings of an association paid out to holders of capitalstock in a stock association.
(20) "Dividends onwithdrawable accounts" means the consideration paid by an association to aholder of a withdrawable account for the use of his money.
(21) "Division"means the Savings Institutions Division of the North Carolina Department ofCommerce.
(22) "Entrance feeper withdrawable account" means the amount to be paid by each person, firmor corporation when he or it pledges to a proposed mutual association todeposit funds in a withdrawable account.
(23) "Examination andinvestigation" means a supervisory inspection of an association orproposed association which may include inspection of every relevant piece ofinformation including subsidiary or affiliated businesses.
(24) "Federalassociation" means a corporation or association organized and operatedunder the provisions of federal law and regulation to conduct a savings andloan business.
(25) "Financialinstitution" means a person, firm or corporation engaged in the businessof receiving, soliciting or accepting money or its equivalent on deposit and/orlending money or its equivalent.
(26) Repealed by SessionLaws 1985, c. 659, s. 1.
(27) "Generalreserve" means appropriated or restricted funds in the form of cash orinvestments to be used solely for the purpose of absorbing losses.
(28) "Guarantyassociation" means a mutual deposit guaranty association which is acorporation organized under this Chapter or its predecessor and operated under theprovisions of Article 12 of this Chapter.
(29) "Immediatefamily" means one's spouse, father, mother, children, brothers, sisters,and grandchildren; and the father, mother, brothers, and sisters of one'sspouse; and the spouse of one's child, brother or sister.
(30) "Initial pledgesfor withdrawable accounts" means those pledges of funds by persons whopromise to a proposed mutual association to deposit such amount if and whensuch proposed association becomes established.
(31) "Insurance ofwithdrawable accounts" means insurance on an association's withdrawableaccounts when the beneficiary is the holder of such insured account.
(32) "Liquidityfund" means that portion of the assets of an association which is requiredto be held in readily marketable form.
(32a) "Interimassociation" means an association formed to facilitate the acquisition ofone hundred percent (100%) of the voting shares of an existing stockassociation by a newly‑formed association or an existing savings and loanholding company or to facilitate any other transaction the Commissioner ofBanks may approve.
(33) "Members"means withdrawable account holders and borrowers in a State mutual association.
(34) "Minimum amountof consideration" means the amount of money a stock association shall berequired to have received on the sale of its stock, before it shall commencebusiness.
(35) "Minimum amounton deposit in withdrawable accounts" means the amount of money which amutual association must have on hand prior to its commencement of business.
(36) "Mutualassociation" means all mutual savings and loan associations owned bymembers of the association, and organized under the provisions of this Chapteror its predecessor for the primary purpose of promoting thrift and homefinancing.
(37) "Net withdrawalvalue of withdrawable accounts" means the aggregate of the withdrawalvalue of an association's withdrawable accounts less the amount of any pledgedwithdrawable account which serves as security for a loan.
(38) "Net worth"means an association's total assets less total liabilities.
(39) "Originalincorporators" means the organizers of a State association responsible forthe business of a proposed association from the filing of the application tothe Commission's final decision on such application.
(40) "Plan ofconversion" means a detailed outline of the procedure of the conversion ofan association from one to another regulatory authority or from one to anotherform of ownership.
(41) "Principaloffice" means the office which houses the headquarters of an association.
(42) "Proposedassociation" means an entity in organizational procedures prior to theCommission's final decision on its charter application.
(43) "Registeredagent" means the person named in the certificate of incorporation uponwhom service of legal process shall be deemed binding upon the association.
(44) "Rules andregulations" means those regulatory procedures and guidelines issued bythe Commissioner of Banks and approved by the Commission.
(44a) Repealed by SessionLaws 1991, c. 680, s. 2.
(45) "Servicecorporation" means a corporation operating under the provision of Article8 of this Chapter which engages in activities determined by the Commissioner ofBanks by rules and regulations to be incidental to the conduct of a savings andloan business as provided in this Chapter or activities which further orfacilitate the corporate purposes of an association, or which furnishesservices to an association or subsidiaries of an association, the voting stockof which is owned directly or indirectly by one or more associations.
(46) "Specificreserve account" means an account held by an association as a loss reservefor coverage on specific loans and investments.
(47) "ThisState" means the State of North Carolina.
(48) "State association"means a corporation or association organized under this Chapter or itspredecessor and operated under the provisions of this Chapter to conduct thesavings and loan business; or a corporation organized under the provisions ofthe predecessors to this Chapter and operated under the provisions of thisChapter; or a corporation organized under the provisions of federal law and soconverted as to be operated under the provisions of this Chapter.
(49) "Stockassociation" means any corporation or company owned by holders of capitalstock and organized under the provisions of this Chapter for the primarypurpose of promoting thrift and home financing.
(50) "Subscriptions"means the promise to purchase capital stock in a stock association and paymentof a portion of the selling price.
(51) "Totalassets" means the aggregate amount of assets of any and every kind held byan association.
(52) "Voluntarydissolution" means the dissolution and liquidation of an associationinitiated by its ownership.
(53) "Withdrawableaccounts" means accounts in which a customer or member places funds withan association which may be withdrawn by the account holder.
(54) Repealed by SessionLaws 1989, c. 76, s. 1. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 1; 1983, c.144, ss. 1, 2; 1985, c. 659, ss. 1, 9(a); c. 677, s. 1; 1989, c. 76, s. 1; c.751, s. 7(3); 1991, c. 680, s. 2; 1991 (Reg. Sess., 1992), c. 829, s. 1; c.959, ss. 5, 5.1; 2001‑193, ss. 3, 4, 17.)
