12 C.F.R. § 708a.3 Board of directors and membership approval.
Title 12 - Banks and Banking
(a) The board of directors must approve a proposal to convert by majority vote and set a date for a vote on the proposal by the members of the credit union. (b) The membership must approve the proposal to convert by the affirmative vote of a majority of those members who vote on such proposal.
Title 12: Banks and Banking
PART 708a—CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS
§ 708a.3 Board of directors and membership approval.
