§ 8-311 — Stock; withdrawals by borrowing members; funds applicable

Withdrawals by a borrowing member from credits on stock pledged as security in connection with a real estate loan made by the association shall be permitted only at the discretion of the association, and if the association is delayed in meeting payments to withdrawing members due to insufficient funds applicable to such purpose, withdrawals permitted to such a borrowing member shall be paid only out of the funds of the association available for the making of real estate loans.

Legislative History

Source: Laws 1941, c. 12, § 1, p. 84; C.S.Supp.,1941, § 8-304; R.S.1943, § 8-311.