; and (III) on which the insured depository institution does not reserve the right to require advance notice of an intended withdrawal. ; and (2) in subparagraph (C), by striking subparagraph (B) and inserting subparagraph (B)(i) . (b) Credit unions Section 207(k)(1) of the Federal Credit Union Act ( 12 U.S.C. 1787(k)(1) ) is amended— (1) in subparagraph (A)— (A) by striking Subject to the provisions of paragraph (2), the net amount and inserting the following: (i) Net amount of insurance payable Subject to clause (ii) and the provisions of paragraph (2), the net amount ; and (B) by adding at the end the following new clauses: (ii) Insurance for noninterest-bearing transaction accounts Notwithstanding clause (i), the Board shall fully insure the net amount that any member or depositor at an insured credit union maintains in a noninterest-bearing transaction account in an amount not more than $10,000,000. Such amount shall not be taken into account when computing the net amount due to such member or depositor under clause (i). (iii) Opt-out and opt-in (I) Opt-out An insured credit union may opt out of the insurance described in clause (ii) during the 30-day period beginning on the date on which the program is established. (II) Opt-in An insured credit union that opts out under subclause (I) may opt into the program every 5 years. (iv) Noninterest-bearing transaction account defined For purposes of this subparagraph, the term noninterest-bearing transaction account means an account or deposit maintained at an insured credit union— (I) with respect to which interest is neither accrued nor paid; (II) on which the account holder or depositor is permitted to make withdrawals by negotiable or transferable instrument, payment orders of withdrawal, telephone or other electronic media transfers, or other similar items for the purpose of making payments or transfers to third parties or others; and (III) on which the insured credit union does not reserve the right to require advance notice of an intended withdrawal.