(a) Any credit union other than a central credit union may, with the approval of the State Credit Union Supervisor, merge with any other credit union under the existing charter of the other credit union, pursuant to any plan agreed upon by the majority of the board of directors of each credit union joining in […]
The State Credit Union Supervisor shall issue rules to permit the conversion of a credit union operating under this chapter to a federal credit union and the conversion of a federal credit union to a credit union operating under this chapter.
A credit union may elect to dissolve voluntarily and wind up its affairs in the following manner: (1) The board of directors of the credit union shall adopt a resolution recommending that the credit union be dissolved voluntarily and directing that the question of dissolution be submitted to a regular or special meeting of the […]
(a) If it shall appear that any credit union is bankrupt or insolvent, that it has willfully violated any of the provisions of this chapter, or that it is operating in an unsafe or unsound manner, the State Credit Union Supervisor shall issue an order temporarily suspending the credit union’s operations. The board of directors […]
(a) The credit union shall continue in existence for the purposes of discharging its debts, collecting and distributing its assets, and doing all acts required in order to wind up its business, and it may sue and be sued for the purpose of enforcing its debts and obligations until its affairs are fully adjusted. (b) […]
