§ 6.1-225.28. Voluntary dissolution
A. A credit union may dissolve in accordance with the provisions of Article 13 (§ 13.1-902 et seq.) of Chapter 10 of Title 13.1. Within ten days after the board of directors votes to recommend dissolution to the members, the board shall notify the Commissioner and the insuring organization of that fact in writing, setting forth the reasons for the proposed dissolution.
B. The dissolving credit union shall also notify the Commissioner of the result when the members have voted on the proposal to dissolve, and shall file with the Commissioner a copy of the certificate of dissolution and the certificate of termination of corporate existence of the credit union within ten days of the issuance of each.
(1990, c. 373.)
Sections: Previous 6.1-225.22 6.1-225.23 6.1-225.23:1 6.1-225.24 6.1-225.25 6.1-225.26 6.1-225.27 6.1-225.28 6.1-225.29 6.1-225.30 6.1-225.31 6.1-225.32 6.1-225.33 6.1-225.34 6.1-225.35 NextLast modified: April 16, 2009