§ 9-315. Rights of owner of deposit account

Latest version.

(a) Claim priority of deposit account. -- The holder of a savings deposit account in a savings and loan association has the same claim priority in any distribution of assets on liquidation as a general creditor of the deposit association to the extent of the deposit account's withdrawal value.

(b) Membership, voting, and distribution rights. -- In addition to subsection (a) of this section, the holder of a savings deposit account has the same rights as the owner of a savings share account, including any membership or voting rights and the right to share in any distribution of remaining assets on liquidation.

HISTORY: 1980, ch. 856; 1981, ch. 2, § 3; 1986, ch. 282.

                    
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