6.1-194.134 - (Repealed effective October 1, 2010) Rules governing withdrawal. - Virginia Statutes

§ 6.1-194.134. (Repealed effective October 1, 2010) Rules governingwithdrawal.

A. The holder of an account in a state savings bank shall have the right towithdraw all or any part of his account provided that the state savings bankshall have the right to establish the rules governing the withdrawals andmay, from time to time, fix the period of notice required to be given forwithdrawal. In no event shall a state savings bank delay or postpone thewhole or partial payment of the value of any savings account pursuant to awritten withdrawal application by the account holder for a period exceedingthirty days following the receipt of such application without first securingwritten permission from the Commissioner.

B. The holder of a federal tax and loan account or note account as defined inthe regulations of the United States Treasury Department shall have the rightof immediate withdrawal of all or any part of such account. In no eventshall a state savings bank delay or postpone the whole or partial payment ofsuch an account pursuant to a written application by the account holder.

(1991, c. 230.)