---
kind: "section"
citation: "12 C.F.R. § 710.1"
title: "12"
number: "710.1"
heading: "Definitions."
url: "https://uscodex.org/cfr/12/710.1"
---

# §710.1. Definitions.


For the purpose of this part, the following definitions apply:

- (a) Voluntary liquidation means the dissolution of a solvent Federal credit union with the assets being sold or collected, liabilities paid, and shares distributed under the direction of the board of directors or its duly appointed liquidating agent.
- (b) Liquidation date means the date the members vote to approve liquidation.
- (c) Liquidating agent means the person or persons, including any legally recognized entity, appointed by the board of directors to liquidate the Federal credit union.

## Notes

### Authority

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

### Source

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