GroundRules
12 CFR 741.7: Conversion to a state-chartered credit union.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER VII—NATIONAL CREDIT UNION ADMINISTRATION
- SUBCHAPTER A—REGULATIONS AFFECTING CREDIT UNIONS
- PART 741—REQUIREMENTS FOR INSURANCE
- Subpart A—Regulations That Apply to Both Federal Credit Unions and Federally Insured State-Chartered Credit Unions and That Are Not Codified Elsewhere in NCUA's Regulations
Any federal credit union that petitions to convert to a state-chartered federally insured credit union is required to apply to the Regional Director for continued insurance of its accounts and meet the requirements as stated in the Act and this part. If the application for continued insurance is not approved, such insurance will terminate subject to the conditions set forth in section 206(d) of the Act.
Collected 2026-08-27T02:24:16Z. Source file · JSON