Each holder of a savings account shall execute a savings contract, the form of which is subject to approval of the supervisor, setting forth any special terms and provisions applicable to the account and the conditions upon which withdrawals may be made not inconsistent with the provisions of the Savings and Loan Act. The savings contract shall be held by the association as part of its records pertaining to the account.
History: 1953 Comp., § 48-15-97, enacted by Laws 1967, ch. 61, § 53.
ANNOTATIONSCross references. — For withdrawals from savings accounts, see 58-10-63 NMSA 1978.
Cross references. — For meaning of "supervisor", see 58-10-2J NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks § 416.
Effect, on bank depositor's rights and those of bank, of printed rules in passbook not expressly accepted, 60 A.L.R.2d 708.
9 C.J.S. Banks and Banking § 605.