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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) A District credit union may accept deposit accounts from its members, other District credit unions, federal credit unions, foreign credit unions, and government units, subject to the terms, rates, and conditions established by the board of directors and applicable local and federal laws and regulations.
(b) Interest may be paid on deposit accounts at various rates with due regard to the conditions that pertain to each type of account, such as minimum balance, notice, and time requirements.
(c) A District credit union may engage in savings or account programs established by federal, state, or local governments.
(d) A District credit union designated as a low-income credit union may accept non-member deposits.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-506.03. Deposit Accounts. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-506-03/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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