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Can you summarize 17 PACS Chapter 11?
CREDIT UNIONS > CONVERSION, MERGER AND CONSOLIDATION
Short Summary
This legal document governs the process of converting a credit union into a Federal credit union. It outlines the requirements for approval by the credit union’s directors and members, as well as the necessary actions to become a Federal credit union. The document also covers the merger and consolidation of credit unions, including the approval process, compliance with Federal and State laws, and the execution of articles of merger or consolidation. The document does not mention any exemptions or penalties.
Whom does it apply to?
Credit unions, Federal credit unions, out-of-State credit unions
What does it govern?
Conversion, merger, and consolidation of credit unions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Pennsylvania