When an S&L is a mutual association, it means that it is owned by the ______.

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asked Oct 2, 2017 163k views

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Grungetta · Answer 1 · 2017-10-07T05:06:26+0000

When an S&L is a mutual association, it means that it is owned by the Management. The members elect directors to its board of trustees. Members have no direct claim to the association's earnings and mutual associations do not issue stock shares.

When an S&L is a mutual association, it means that it is owned by the ______.

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