Conversions; fee set by regulation.
1. A credit union chartered in accordance with the laws of this state may be converted to a credit union chartered in accordance with the laws of any other state or the laws of the United States, subject to regulations adopted by the Commissioner.
2. A credit union chartered in accordance with the laws of the United States or of any other state may convert to a credit union chartered in accordance with the laws of this state. To effect such a conversion, a credit union must comply with all the requirements of the authority under which it was originally chartered and the requirements of the Commissioner and file proof of such compliance with the Commissioner.
3. Every application for permission to convert to a credit union chartered in accordance with the laws of this state must be accompanied by an application fee in an amount prescribed by regulation of the Commissioner. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545.
Last modified: February 26, 2006