(a) Except as required by subsection (b) of this section, a savings and loan association is not required to pay any dividend or interest on special purpose accounts such as “Christmas” or “vacation” accounts.
(b) A savings and loan association shall pay at least 5 percent annual interest or dividend on savings accounts that are for:
(1) A period of 1 year or less; and
(2) A special purpose, such as “Christmas” or “vacation” accounts.
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