ARTICLE 13. Redemption [7150. - 7154.]

Article 13 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 7150–7154 · 5 sections

• § 7150 At any time funds are on hand for the purpose, an association shall have the right to redeem by lot or otherwise, as the board of directors may determine, all…
• § 7151 Except with the prior consent of the commissioner, no association shall redeem any of its savings accounts when the association is in an impaired condition and…
• § 7152 The redemption price of savings accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in no event…
• § 7153 If the notice of redemption under Section 7150 has been given, and if on or before the redemption date the funds necessary for the redemption have been set…
• § 7154 (a) All certificates of ownership evidencing former savings accounts that have been called for redemption must be tendered for payment within the time limit…