§ 34.1. Definitions.
The following words and terms, when used in this chapter have the following meanings, unless the context clearly indicates otherwise:
AssociationA savings association subject to the Code.
CodeThe Savings Association Code of 1967 (7 P. S. § § 6020-16020-254).
NOW AccountA savings account from which the owner may make withdrawals by negotiable or transferable instruments for the purpose of making transfer to third parties.
NOW Account agreementThe agreement between the association and the owner of the account setting forth all terms and conditions applicable to the operation of a NOW Account. Such agreement shall constitute a savings account contract under section 803 of the Code (7 P. S. § 6020-113).
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