HARRY HUGHES, Governor

4215

judgment, limit a withdrawal from the following types of
accounts to a specified amount of $1,000 or more, if a
larger withdrawal is deemed by the association to be
inconsistent with the safe and sound operation of the
association:

(1)  Accounts held in a designated escrow account for a
previously delineated purpose, provided that (i)
the person requesting the withdrawal shall first
state, by a written statement made under penalties
of perjury, that such withdrawal is immediately
necessary for, and will be applied exclusively to,
the accomplishment of the purpose for which the
escrow account was established and (ii) the
association determines that the amount of the
withdrawal is consistent with and necessary for the
purpose stated in the sworn statement;

(2)  Accounts held by a business entity for payroll
purposes, provided that (i) the person requesting

the withdrawal shall first state, by a written
statement made under penalties of perjury, that
such withdrawal is immediately necessary for, and
will be applied exclusively to, payroll obligations
for not more than one payroll period per account
and (ii) the association determines that the amount
of the withdrawal is consistent with and necessary
for the purpose stated in the sworn statement;

(3)  Accounts in an association held by a business
entity in which the. association has any equity

interest, provided that (i) the person requesting
the withdrawal shall first state, by a written
statement made under penalties of perjury, that
such withdrawal is immediately necessary for, and
will be applied exclusively to, the preservation of
the assets of the business entity and (ii) the
association determines that the amount of the
withdrawal is consistent with and necessary for the
purposes stated in the sworn statement, and
provided further that any withdrawal made under
this subsection shall be reported by the
association to the Office of the Fund Director, in
the form and with the specificity that the Fund
Director requires, before the close of the business
day in which the withdrawal was made; and

(4)  Accounts held by an individual for the purpose of
(A) consummating a residential real property
settlement pursuant to a contract entered into
prior to 4:47 p.m. on May 14, 1985, (B) payment of
a currently payable bill for tuition rendered by an
educational institution, (C) payment of a currently
payable residential mortgage installment, (D)
payment of a currently payable obligation for