§ 54B-135. Transfer of withdrawable accounts. - North Carolina Statutes

§ 54B‑135.  Transfer ofwithdrawable accounts.

The owner of a withdrawableaccount may transfer his rights therein absolutely or conditionally to anyother person eligible to hold the same but such transfer may be made on thebooks of the association only upon presentation of evidence of transfersatisfactory to the association, and accompanied by the proper application fortransfer by the transferor and transferee, who shall accept such accountsubject to the terms and conditions of the savings contract, the bylaws of theassociation, the provisions of its certificate of incorporation, and all rulesand regulations of the Commissioner of Banks. Notwithstanding the effectivenessof such a transfer between the parties thereto, the association may treat the holderof record of a withdrawable account as the owner thereof for all purposes,including payment and voting (in the case of a mutual association) until suchtransfer and assignment has been recorded by the association. (1981, c. 282, s. 3; 2001‑193,s. 16.)