12 CFR 192.475
§ 192.475 Definition of liquidation.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 192.475, § 192.475 Definition of liquidation, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43989
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Full text
(a) In general. A liquidation is a sale of a savings association's assets and settlement of its liabilities with the intent to cease operations and close. Upon liquidation, a savings association must return its charter to the governmental agency that issued it. The government agency must cancel the savings association's charter.
(b) Other transactions. A merger, consolidation, or similar combination or transaction with another depository institution, is not a liquidation. If a savings association is involved in such a transaction, the surviving institution must assume the liquidation account.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.