§ 708a.109 Other regulatory oversight of methods and procedures of membership vote.
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Title 12—Banks and Banking > CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION > SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS > PART 708a—BANK CONVERSIONS AND MERGERS > Subpart A—Conversion of Insured Credit Unions to Mutual Savings Banks
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The federal or state regulatory agency that will have jurisdiction over the financial institution after conversion must verify the membership vote and may direct that a new vote be taken, if it disapproves of the methods by which the membership vote was taken or the procedures applicable to the membership vote.
[71 FR 77167, Dec. 22, 2006. Redesignated at 75 FR 81386, Dec. 28, 2010]
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