12 C.F.R. § 708a.9   Completion of conversion.


Title 12 - Banks and Banking


Title 12: Banks and Banking
PART 708a—CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS

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§ 708a.9   Completion of conversion.

(a) Upon receipt of approvals under §708a.7 and §708a.8 of this part, the credit union may complete the conversion transaction.

(b) Upon notification by the board of directors of the mutual savings bank or mutual savings association that the conversion transaction has been completed, the NCUA will cancel the insurance certificate of the credit union and, if applicable, the charter of the federal credit union.

[63 FR 65535, Nov. 27, 1998, as amended at 64 FR 28735, May 27, 1999]

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