A bill to amend section 205 of the Federal Credit Union Act.

Summary

Amends the Federal Credit Union Act to permit the National Credit Union Administration Board to authorize a merger or consolidation of an insured credit union which is insolvent or is in danger of insolvency with any other insured credit union. Permits the Board to authorize a purchase and assumption by an insured credit union of all or any part of the assets and liabilities of any other insured credit union which is insolvent or in danger of insolvency if the Board is satisfied that any emergency requiring expeditious action exists with respect to such credit union and that other alternatives are not reasonably available.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 17 June 1981

  Open at official source

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