[Code of Federal Regulations]

[Title 12, Volume 6]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR708a.1]



[Page 490-491]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 708a_CONVERSION OF INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS

--Table of Contents

 

Sec. 708a.1  Definitions.









Sec.

708a.1 Definitions.

708a.2 Authority to convert.

708a.3 Board of directors and membership approval.

708a.4 Voting procedures.

708a.5 Notice to NCUA.

708a.6 Certification of vote on conversion proposal.

708a.7 NCUA oversight of methods and procedures of membership vote.

708a.8 Other regulatory oversight of methods and procedures of 

          membership vote.

708a.9 Completion of conversion.

708a.10 Limit on compensation of officials.

708a.11 Voting guidelines.



    Authority: 12 U.S.C. 1766, 12 U.S.C. 1785(b).



    Source: 63 FR 65535, Nov. 27, 1998, unless otherwise noted.



[[Page 491]]





    As used in this part:

    (a) Credit union has the same meaning as insured credit union in 

section 101 of the Federal Credit Union Act.

    (b) Mutual savings bank and savings association have the same 

meaning as in section 3 of the Federal Deposit Insurance Act.

    (c) Federal banking agencies has the same meaning as in section 3 of 

the Federal Deposit Insurance Act.

    (d) Senior management official means a chief executive officer, an 

assistant chief executive officer, a chief financial officer, and any 

other senior executive officer as defined by the appropriate Federal 

banking agency pursuant to section 32(f) of the Federal Deposit 

Insurance Act, 12 U.S.C. 1831i(f).