### Question
What is the definition of noninterest-bearing transaction account?


### Answer
The definition of **noninterest-bearing transaction account** is as follows in *12 U.S.C. § 1787*:

> an account or deposit maintained at an insured credit union—


(I) with respect to which interest is neither accrued nor paid

#### Citation:
  - *12 U.S.C. § 1787*
  - Heading: **CHAPTER 14-FEDERAL CREDIT UNIONS > SUBCHAPTER II-SHARE INSURANCE**

