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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 708b - Mergers of Federally-Insured Credit Unions; Voluntary Termination or Conversion of Insured Status |
§ 708b.1 - Scope.
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§ 708b.1 Scope.
(a) Subpart A of this part prescribes the procedures for merging one or more credit unions with a continuing credit union where at least one of the credit unions is federally insured.
(b) Subpart B of this part prescribes the procedures and notice requirements for termination of federal insurance or conversion of federal insurance to nonfederal non-Federal insurance, including termination or conversion resulting from a merger.
(c) Subpart C prescribes required forms for use in conversion of federal insurance to nonfederal non-Federal insurance.
(d) Nothing in this partrestricts part restricts or otherwise impairs the authority of the NCUA to approve a merger pursuant to section 205(h) of the Act.
(e) This part does not address procedures or requirements that may be applicable under state law for a state credit union.
[70 FR 3288, Jan. 24, 2005, as amended at 85 FR 62213, Oct. 2, 2020]