Section 1000.1420  Depositors

a)         The following classifications of depositors may hold NOW accounts:

1)         Any individual;

2)         Any two or more individuals jointly, so long as the purpose is not for business;

3)         Any organization operated primarily for religious, philanthropic, charitable, educational, fraternal or other similar purposes.

b)         Payment Order Accounts:  Any depositor may hold a payment order account in an association which offers such accounts.