§ 708b.1. Scope.
142 words·~1 min read·
/us/cfr/t12/s§ 708b.1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 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 non-Federal insurance.
(d)Nothing in this 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]