ARTICLE 11. Interest

Article 11 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 7050–7055 · 6 sections

• § 7050 An association may issue savings accounts earning interest at different rates of return. The annual rate of return paid on a savings account may either be…
• § 7051 An association may classify its savings accounts on any basis including, but not limited to, character, amount, or duration of the account, regularity of…
• § 7052 Except for accounts that are classified according to a specified contractual time or notice period, interest shall be based on the withdrawal value of each…
• § 7053 (a) The date of investment in a savings account shall be the date of actual receipt by the association of the account or an addition to the account, except…
• § 7054 The board of directors, by resolution, may determine any of the following: (a) That interest shall not be paid on designated types of savings accounts from…
• § 7055 The directors shall determine the method of calculating the amount of any interest on any savings account classification as provided in this article and the…