District of Columbia § 26-506.04 Withdrawals.

District of Columbia Statutes

§ 26-506.04 — Withdrawals.

District of Columbia § 26-506.04

JurisdictionDistrict of Columbia

Title 26Banks and Other Financial Institutions.

Ch. 5Credit Unions.

Subch. ICredit Union Act of 2020.

Part FMember Accounts.

This text of District of Columbia § 26-506.04 (Withdrawals.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-506.04 (2026).

Text

(a)Funds in share and deposit accounts may be withdrawn for payment to the account holder or to third parties, in the manner and in accordance with the procedures that are established by the board of directors, subject to any regulations the Commissioner prescribes.

(b)Share, membership share, and deposit accounts shall be subject to any withdrawal notice requirement imposed by the bylaws.

(c)A membership share may only be redeemed or withdrawn after termination of membership in the District credit union, and at a value proportionate to its current value.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Funds in share and deposit accounts may be withdrawn for payment to the account holder or to third parties, in the manner and in accordance with the procedures that are established by the board of directors, subject to any regulations the Commissioner prescribes.

(b) Share, membership share, and deposit accounts shall be subject to any withdrawal notice requirement imposed by the bylaws.

(c) A membership share may only be redeemed or withdrawn after termination of membership in the District credit union, and at a value proportionate to its current value.