§ 36.1. Definitions.
The following words or phrases, when used in this part, shall have, unless the context clearly indicates otherwise, the following meanings:
Association—A State-chartered savings association, savings and loan association, or building and loan association.
Code—The Savings Association Code of 1967 (7 P. S. § § 6020-1—6020-254).
Depository—An association which acts as depository for funds deposited in accordance with the requirements of United States Treasury regulations for Treasury Tax and Loan accounts and which is insured by the Federal Savings and Loan Insurance Corporation or by a corporation chartered by the Commonwealth for the sole purpose of insuring deposits or accounts of such associations.
Note account—A note, subject to the right of immediate call, evidencing funds held by depositories electing the note option under applicable United States Treasury Department regulations. Note accounts are not savings accounts or savings deposits.
Tax and loan account—An account, the balance of which is subject to the right of immediate withdrawal, established for receipt of payments of Federal taxes and certain United States obligations; such accounts are not savings accounts or savings deposits.
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