§ 36101. Suspension, voluntary liquidation, and involuntary liquidation (a) Suspension. If it appears that any credit union is bankrupt or insolvent or that it has willfully violated this chapter or is operating in an unsafe or unsound manner, the Commissioner shall issue an order temporarily suspending the credit union’s operations for not more than 60 […]
§ 36102. Involuntary merger of credit union (a) Notwithstanding any other provision of law, the Commissioner may initiate the involuntary merger of a credit union which is insolvent or is in danger of insolvency or is operating in an unsafe or unsound manner with any other credit union or may authorize a credit union to […]
§ 36103. Conservatorship (a) The Commissioner may, ex parte without notice, appoint himself or herself or an insuring organization or any other person as conservator and immediately take possession and control of the business and assets of any credit union in any case in which: (1) The Commissioner determines that such action is necessary to […]
§ 36104. Appointment of director and managing officers of troubled credit unions The Commissioner shall approve any director elected or appointed to serve on the governing body and any person appointed as the managing officer of a troubled credit union, before the director or officer takes office. As used in this section, “troubled credit union” […]
