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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 12 - Banks and Banking |
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Chapter VII - National Credit Union Administration |
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SubChapter A - Regulations Affecting Credit Unions |
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Part 708a - Bank Conversions and Mergers |
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Subpart A - Conversion of Insured Credit Unions to Mutual Savings Banks |
§ 708a.12 - Voting incentives.
Latest version.
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If a converting credit union offers an incentive to encourage members to participate in the vote, including a prize raffle, every reference to such incentive made by the credit union in a written communication to its members must also state that members are eligible for the incentive regardless of whether they vote for or against the proposed conversion.
Effective Date Note: At 75 FR 81386, Dec. 28, 2010, § 708a.12 was redesignated as § 708a.112, effective Jan. 27, 2011.