Title 12: Banks and Banking
PART 7—BANK ACTIVITIES AND OPERATIONS
Subpart A—Bank Powers
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§ 7.1018 Automatic payment plan account.
A national bank may, for the benefit and convenience of its savings depositors, adopt an automatic payment plan under which a savings account will earn dividends at the current rate paid on regular savings accounts. The depositor, upon reaching a previously designated age, receives his or her accumulated savings and earned interest in installments of equal amounts over a specified period.
