[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: 12CFR710.0]



[Page 519]

 

                       TITLE 12--BANKS AND BANKING

 

            CHAPTER VII--NATIONAL CREDIT UNION ADMINISTRATION

 

PART 710_VOLUNTARY LIQUIDATION--Table of Contents

 

Sec. 710.0  Scope.









Sec.

710.0 Scope.

710.1 Definitions.

710.2 Responsibility for conducting voluntary liquidation.

710.3 Approval of the liquidation proposal by members.

710.4 Transaction of business during liquidation.

710.5 Notice of liquidation to creditors.

710.6 Distribution of assets.

710.7 Retention of records.

710.8 Certificate of dissolution and liquidation.

710.9 Federally insured state credit unions.



    Authority: 12 U.S.C. 1766(a), 1786, and 1787.



    Source: 58 FR 35365, July 1, 1993, unless otherwise noted.





    This part describes the requirements that must be followed to 

accomplish the voluntary liquidation of a Federal credit union. 

Federally insured state credit unions are only subject to the 

notification requirement provided in Sec. 710.9; voluntary liquidation 

is to be accomplished in accordance with state law or procedures 

established by the state regulatory authority.