12 CFR 701.35
§ 701.35 Share, share draft, and share certificate accounts.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 701.35, § 701.35 Share, share draft, and share certificate accounts, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48362
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Full text
(a) Federal credit unions may offer share, share draft, and share certificate accounts in accordance with section 107(6) of the Act (12 U.S.C. 1757(6)) and the board of directors may declare dividends on such accounts as provided in section 117 of the Act (12 U.S.C. 1763).
(b) A Federal credit union shall accurately represent the terms and conditions of its share, share draft, and share certificate accounts in all advertising, disclosures, or agreements, whether written or oral
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.