Share draft definition

Share draft means a negotiable draft which is payable through a bank and is used to withdraw shares from a share draft account. (7-1-93)

Share draft means a negotiable draft which is payable upon demand and is used to withdraw funds from a share draft account.

Share draft means a negotiable or nonnegotiable draft used to withdraw shares or deposits from a share draft account.

Examples of Share draft in a sentence

• Share draft Safekeeping is automatic on Your Account and Your cancelled share drafts will not be returned to You.

• Share draft safekeeping is automatic on Your Account and Your cancelled share drafts will not be returned to You.

• Share draft Safekeeping is automatic on Your Account and, Your cancelled share drafts will not be returned to You.

• Share draft Safekeeping is automatic on Your Account and, unless You specifically request otherwise and agree to pay any associated fees, Your cancelled share drafts will not be returned to You.

• Share draft accounts may be withdraw- able upon demand, or the credit union may reserve the right to require at least seven days’ notice prior to an intended withdrawal.

• Share draft and ETA Accounts are subdivided into two subaccounts: a transaction subaccount and a savings subaccount.

• Share draft safekeeping is automatic on Your Account and, Your cancelled share drafts will not be returned to You.

• Share draft accounts are the credit union equivalent of bank checking accounts.

• Report in a way that does not identify individuals, wherever possible.! Share draft summary report with REC Chair and/or senior REC Administrator for comments and feedback.! Incorporate feedback, finalize summary report and complete signature page.

• Share draft accounts are accounts at credit unions from which the ho1der is authorized to withdraw shares or to transfer shares to third parties by means of a negotiab1e or transferab1e instrument or other order such as a share draft.

More Definitions of Share draft

Share draft means a negotiable or non-negotiable draft used to withdraw shares from a share draft account.

Share draft means a draft used by credit union members to withdraw funds from a credit union for payment to nonmembers.