Has anyone run across these situations?

Is the closing of a time deposit account before maturity considered a "withdrawal"?

If closed within the 6-day window and no penalty was paid, it automatically becomes another type of account- but then, being closed, would it matter?

Are time deposits held by a trust considered personal or nonpersonal?

Are nonpersonal time deposits subject to the time deposit limitations?

Thanks

Yes, the closing of the time deposit before, or after maturity is a withdrawal.

If closed within the penalty period and no penalty is imposed, it becomes a demand deposit (no reservation of right to require advance notice of withdrawal), effective as of the deposit's inception. That may or may not make a difference with regard to one account. If it's a pattern that you allow it, however, your regulator may make you reclassify all your CD balances. THAT would make a difference.

The time deposit limitations apply to all time deposits.

Thank you!