Examlex
As nonprofit institutions, credit unions enjoy an exemption from federal income taxes.
Heirs
Individuals legally entitled to inherit a deceased person's assets under statutory or testamentary succession laws.
Stop-payment Order
A request made to a bank by an account holder to not pay a check or payment that has been issued but not yet processed.
Defective
Refers to a flaw or imperfection in a product or service that makes it unsafe or unsuitable for its intended use.
Dishonors
The refusal or inability of a bank to pay a check or draft when presented for payment.
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