TERMS AND CONDITIONS APPLICABLE TO ALL ACCOUNTS. I must deposit the par value of at least one (1) share into a Membership Savings Account to become a member and maintain accounts with you. The par value of a share is currently $5.00. If I fail to complete the purchase of one (1) share within six (6) months of my admission to membership or within six (6) months from the increase in the par value in shares, or if I reduce my Account balance below the par value of one (1) share and I do not increase the balance to at least the par value of one (1) share within six (6) months of the reduction, I may be terminated from membership. I must be and remain a member in good standing to maintain any account. I must maintain the par value of a share in a Membership Savings Account to open other accounts. The maximum amount of shares that may be held by any member may be established from time to time by the Board of Directors.
Appears in 2 contracts
Sources: Truth in Savings Disclosure and Account Agreement, Truth in Savings Disclosure and Account Agreement