6.1-194.50 - (Repealed effective October 1, 2010) Rules governing withdrawal. - Virginia Statutes

§ 6.1-194.50. (Repealed effective October 1, 2010) Rules governing withdrawal.

A. The holder of a savings account in an association shall have the right towithdraw all or any part of his account provided that an association shallhave the right to establish the rules governing the withdrawals and may fromtime to time fix the period of notice required to be given for withdrawal. Inno event shall an association delay or postpone the whole or partial paymentof the value of any savings account pursuant to a written withdrawalapplication by a savings account holder for a period exceeding thirty daysfollowing the receipt of such application without first securing writtenpermission from the Commissioner.

B. The holder of a federal tax and loan account or note account as defined infederal regulations shall have the right of immediate withdrawal of all orany part of such account. In no event shall an association delay or postponethe whole or partial payment of such an account pursuant to a writtenapplication by the account holder.

(Code 1950, §§ 6-201.21, 6.1-148, 6.1-195.21; 1960, c. 402; 1966, c. 584;1972, c. 796; 1979, c. 76; 1985, c. 425; 1990, c. 3.)