Legal Definitions - NOW

NOW is an acronym that can refer to two distinct entities:

• 1. NEGOTIABLE ORDER OF WITHDRAWAL (NOW)

  A Negotiable Order of Withdrawal (NOW) account is a type of interest-bearing deposit account offered by banks and other financial institutions, from which withdrawals can be made by negotiable order (similar to a check). Essentially, it functions much like a checking account, allowing account holders to write checks and make electronic payments, but it also earns interest on the deposited funds, a feature traditionally associated with savings accounts.

  • Example 1: Managing Personal Expenses
    Maria opens a NOW account to manage her monthly household budget. She uses it to pay her rent, utility bills, and credit card statements via direct debit or by writing checks. The balance she maintains in the account for these routine expenditures also accrues a small amount of interest, providing a modest return on her readily accessible funds.

    This illustrates a NOW account because Maria is using it for transactional purposes (paying bills like a checking account) while simultaneously earning interest on her balance, a key characteristic that distinguishes it from a standard checking account.

  • Example 2: Small Business Operating Capital
    The owner of a local graphic design studio, David, decides to hold his business's operational funds in a NOW account. This allows him to easily pay his freelance contractors, purchase software licenses, and cover office supplies using checks or electronic transfers. The interest earned on the account balance helps to slightly offset some of his banking fees or contributes to his overall business savings, without tying up his capital in a traditional savings account.

    This example demonstrates a NOW account's utility for a business that requires frequent access to funds for daily operations while also seeking to earn interest on its working capital, combining features of both checking and savings accounts.

• 2. National Organization for Women (NOW)

  The National Organization for Women (NOW) is a prominent American feminist organization founded in 1966. It advocates for women's rights and equality through various means, including political lobbying, public demonstrations, educational campaigns, and legal action. NOW focuses on issues such as reproductive rights, economic equality, ending violence against women, and promoting diverse representation in leadership roles.

  • Example 1: Advocating for Workplace Equality
    NOW actively lobbies state legislators to pass a new bill that would mandate paid family leave for all employees, regardless of gender. They organize letter-writing campaigns, send representatives to testify at committee hearings, and encourage their members to contact their elected officials to support the legislation, emphasizing its benefit for women in the workforce.

    This illustrates NOW's role as an advocacy organization working to influence public policy and legislation in favor of women's economic and professional equality.

  • Example 2: Organizing a Public Awareness Campaign
    Following a series of high-profile cases involving sexual harassment in the workplace, a local chapter of NOW launches a public awareness campaign. They distribute informational flyers, host community workshops on reporting harassment, and organize a peaceful rally to highlight the issue and demand stronger protections for victims.

    This example demonstrates NOW's function in organizing public awareness campaigns and direct action to address issues like violence against women and promote a safer environment.

  • Example 3: Supporting a Legal Challenge to Discrimination
    NOW provides amicus curiae (friend of the court) briefs in a federal lawsuit challenging a university's admissions policy that disproportionately disadvantages female applicants. While not directly representing the plaintiffs, NOW's legal team submits arguments to the court, highlighting the broader implications of the policy on gender equality in education.

    This shows NOW's involvement in supporting legal challenges that align with its mission to combat gender discrimination and promote equality, even when not a direct party to the lawsuit.