{"data":{"id":"us/12-cfr-192.475","jurisdiction":"us","citation":"12 CFR 192.475","heading":"Definition of liquidation.","body":"(a) In general. A liquidation is a sale of a savings association's assets and settlement of its liabilities with the intent to cease operations and close. Upon liquidation, a savings association must return its charter to the governmental agency that issued it. The government agency must cancel the savings association's charter.\n(b) Other transactions. A merger, consolidation, or similar combination or transaction with another depository institution, is not a liquidation. If a savings association is involved in such a transaction, the surviving institution must assume the liquidation account.","path":["Title 12—Banks and Banking","CHAPTER I—COMPTROLLER OF THE CURRENCY, DEPARTMENT OF THE TREASURY","PART 192—CONVERSIONS FROM MUTUAL TO STOCK FORM","Subpart A—Standard Conversions"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"98ed98425bd4c0fb10cb93bcb6356b769387140bfb3a21c3fa79f8fd7966eca6","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-192.470","next":"us/12-cfr-192.480"},"notice":"GroundRules: Original legal text. Not legal advice."}