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Charter K (Rev.) ~ 2429 '
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aooounts or paid, ~a dir~ected by the owner. All auch determination date. ehaU receive earnings ~
holders of eavinga aooounta shaU participate at aa ii inveated on the flrst of the neut succeeding ,
the same rate nnd on the same bsaie in tbe dis- month. Notwithstanding aqy other prnvision ;
tribution of earnings : P~rovided, That the seso- oi ita charter, the asaociation may diatritiute '
ciation ie not required to diatrlbute earninga on net earninga on ita aavinga accounts on such `
short-term savings accounte or on accounts of other basis ~nd in aooordance with such other :
.=10 or leas. Except as provided above, earn- terma and conditions as may fxom time to time ;
ing8 shall be declared on all aevings accounta oi be authorized by regulations made bq the Fed- .
, reoord at the close oi each such 6 montt~s' pe- eral Home Loan Bank Board. All holdera of ~
riod. on the withdrawal value oi each such savings acxounta of the association ahall be en- :
~ r aocount at the beginning oi the aaid 6 montha' titled to equal distribation of aeseta, pro rata to ;
period, plue the payments made thereon during the value oi their savings accounts, in the event `
~ - such period (less amounts withdrawn. and. for • of voluntary or involuntary liquidation. dissolu- ~
; purpo.ses of participation in earnings, deducted tion, or winding up of the association. ~ ;
irom the latest previous pqyments), computed 11. Amendment oj charter. No amendment, '
! ~t the declared rate for the time invested. deter- addition, alteration. change, or repeal oi this
, mined as prnvided below. The date of inves~ charter shall be made unlesa such proposal is
ment shall be the date of actual receipt ~of such ~de by the board oi directors ot the associa-
j payments by the asaociation. unlesa the board ~on, and submitted to and approved by the
; of directora flues a date, not later than the tenth Federal Home Loan Bank Board. and ia there- ~
o! the month, !or determining the date of in-
vestment of payments on savings accounts or after submitted to and approved by the mem-
designated classes thereoi. Payments, affected at a legal meeting. Any amendment, addi- .
i by such determination date. received by the ~on. alteration. change. or repeal so acted upon
` association on or before such determination and approved ahall be etlective, if flled with and
! date, shall receive earnings aa if invested on the approved by the Federal Home Loan Bank
; flrst of such month. Payments. affected by Board, as of the date oi the flnal approval of, .
such determination date, received eubsequent to or as fl~ced by. the membera.
! Issued at Washington. D. C., this 8th day of July, 1964
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FSDffitAL HOIRS LOAH BANK BOARD.
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• . • . • - ~ Chairnoan
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: w..._.~,. 1964 ~ t PM 3~ 42
a ROGER P0ITRAS. CIERK .
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