Sec. 5. (a) A savings bank may receive savings deposits and, subject to subsection (b), demand deposits.
(b) If a savings bank accepts demand deposits, the savings bank shall establish and maintain the reserve balances prescribed by law applicable to banks and trust companies or by any general rules of the department, when the law, rules, and regulations apply to all banks and trust companies alike.
As added by P.L.42-1993, SEC.72.