§412:7-405 Membership. (a) All holders of a mutual savings and loan association's deposit accounts and borrowers, whether secured or unsecured, shall be members of the mutual savings and loan association.

(b) An account or loan in the name of two or more persons shall not confer greater voting or other membership rights than if such account or loan were in the name of one person. [L 1993, c 350, pt of §1]