share draft account

An account that a member maintains at a credit union and that can be drawn on through the use of share drafts payable to third parties.

• A share-draft account operates much like a checking account operates at a bank.

— Also termed share account. [Cases: Building and Loan Associations 40. C.J.S. Building and Loan Associations, Savings and Loan Associations, and Credit Unions § 66.]

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词条贡献者

资深译员Ting，亚洲顶尖法学院国际贸易专业，擅长翻译各类与国际贸易委员会调查程序相关的法律文件。