{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-2022","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-2022","heading":"Merger of credit unions","body":"Any credit union may, with the approval of the State Credit\n\nUnion Board, merge with another credit union under the existing\n\ncharter of the other credit union, pursuant to any plan agreed upon\n\nby the majority of the board of directors of each credit union\n\njoining in the merger, and approved by the affirmative vote of a\n\nmajority of the members of the merging credit union present at a\n\nmeeting of the members duly called for such purpose. After\n\nagreement by the directors and approval by the members of the\n\nmerging credit union, the president and secretary of each credit\n\nunion shall execute a certificate of merger, which shall set forth\n\nall of the following:\n\n(a) The time and place of the meeting of the board of directors\n\nat which the plan was agreed upon;\n\n(b) The vote in favor of adoption of the plan; and\n\n(c) A copy of the resolution or other action by which the plan\n\nwas agreed upon.\n\nThe certificate executed by the officers of the merging credit union\n\nshall also set forth:\n\n(d) The time and place of the meeting of the members at which\n\nthe plan agreed upon was approved;\n\n(e) The vote by which the plan was approved by the members; and\n\n(f) The effective date of the merger.\n\nSuch certificates and a copy of the plan of merger agreed upon\n\nshall be forwarded to the Bank Commissioner who shall, upon approval\n\nof the State Credit Union Board, certify and return them to the\n\nmerging credit union and the surviving credit union within sixty\n\n(60) days. The merging credit union shall cause a copy of the\n\ncertificate of merger, duly certified to by the Bank Commissioner,\n\nto be filed in the office of the Secretary of State forthwith.\n\nUnless otherwise provided in the certificate of merger, the merger\n\nshall be deemed effected upon such filing of the certificate and the\n\nmerging credit union shall cease to exist.\n\nUpon any such merger so effected, all property, property rights,\n\nfield of membership and interest of the merged credit union shall\n\nvest in the surviving credit union without deed, endorsement or\n\nother instrument of transfer, and all debts, obligations and\n\nliabilities of the merged credit union shall be deemed to have been\n\nassumed by the surviving credit union under whose charter the merger\n\nwas effected.\n\nThis section shall be construed, whenever possible, to permit a\n\ncredit union chartered under any other act to merge with one\n\nchartered under this act, or to permit one chartered under this act\n\nto merge with one chartered under any other act.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"177d9df600cb8f62fbfe264c21721f2f2700a00afc70478dda21568f50fc84ad","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-2021","next":"us-ok/okla.-stat.-tit.-6-6-2023"},"notice":"GroundRules: Original legal text. Not legal advice."}