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SECTION 630
Claims of shareholders and members of credit unions and savings and loan associations
Banking (BNK) CHAPTER 2, ARTICLE 13
§ 630. Claims of shareholders and members of credit unions and savings
and loan associations. For the purposes of sections six hundred six to
six hundred thirty-one, both inclusive, of this chapter, the terms
"depositors" and "creditors" shall be deemed to include shareholders or
members of a credit union or savings and loan association, and the terms
"claims, " "accounts payable, " "deposits" and "deposit accounts" shall
be deemed to include the liability of a credit union or savings and loan
association to such shareholders or members, provided, however, that
nothing contained in this section shall in any way affect any priority
over such shareholders or members to which any general creditor of a
credit union or savings and loan association would be entitled in the
absence of this section, and provided further that the provisions of
subdivision two of section six hundred twenty of this chapter shall not
apply to the claims of creditors entitled to such priority.