§708a.302. Authority to merge.
12 C.F.R. § 708a.302
A credit union, with the approval of its members, may merge into a bank only with the prior approval of NCUA, the Federal Deposit Insurance Corporation, and the regulator of the bank. If the credit union is State chartered, it also needs the prior approval of its State regulator.
Notes, amendments, and revision history
Source
Source: 75 FR 81387, Dec. 28, 2010, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1766, 1785(b), and 1785(c).
Source
Source: 71 FR 77167, Dec 22, 2006, unless otherwise noted.