If the commissioner finds that a credit union is insolvent when the commissioner receives notice of its intention to dissolve, or if a credit union in the process of voluntary dissolution is not liquidated completely and its assets distributed within three years after the special meeting at which the dissolution was voted, the commissioner shall take possession of the books, records, and assets of the union and proceed to complete the liquidation in the manner provided in this title for the liquidation of closed banks.
‹ Prev All North Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.