A credit union may require sixty days’ notice of intention to withdraw shares and thirty days’ notice of intention to withdraw deposits. Withdrawing members have no further rights in the credit union, but are not released from any remaining liability to it by such withdrawal. All amounts paid on shares or as deposits by a withdrawing member, and any dividends or interest    credited to that member to the date of withdrawal, after all sums due from the member to the credit union have been deducted, must be repaid to the member as funds become available.

Terms Used In North Dakota Code 6-06-27

  • Credit union: means a cooperative, nonprofit association organized for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to improve their economic and social condition. See North Dakota Code 6-01-02