17:12B-235 - Application of participation value to indebtedness
17:12B-235. Application of participation value to indebtedness
The participation value, at the date of dissolution of an association, of any account in such association which is pledged as security for the payment of any indebtedness to such association, shall be applied to the payment of such indebtedness.
L.1963, c. 144, s. 235.