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Dissolution authorized - 17 Pa. Cons. Stat. § 1301

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                                CHAPTER 13
                               DISSOLUTION

     Sec.
     1301.  Dissolution authorized.
     1302.  Approval of voluntary dissolution.
     1303.  Dissolution proceedings.
     1304.  Department supervision.
     1305.  Articles of dissolution.
     1306.  Involuntary dissolution.

        Enactment.  Chapter 13 was added December 19, 1990, P.L.834,
     No.198, effective in two months.
     § 1301.  Dissolution authorized.
        Any credit union may elect to dissolve voluntarily and wind
     up its affairs in the manner provided in this chapter. However,
     if it shall appear to the department, upon an examination of the
     business, assets and affairs of the credit union, that its
     assets will probably be insufficient to pay in full its members
     and creditors, it shall take possession of the business and
     property of the credit union and retain possession until its
     affairs are finally liquidated.
     (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)

Last modified: November 27, 2007