Sec. 125.301. FORM OF ACCOUNT. (a) A credit union may issue shares or receive a deposit: (1) in a revocable trust, if: (A) a settlor is a member of the credit union; or (B) a trustee or a beneficiary is a member of the credit union and the settlor is a member of the trustee's or beneficiary's family as that term is defined by the board in a written policy; or (2) in an irrevocable trust, if a settlor, trustee, or beneficiary is a member of the credit union. (b) A credit union may rely on any information provided by the trustee to determine whether a trust is revocable or irrevocable.
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