12 CFR 708a.109
§ 708a.109 Other regulatory oversight of methods and procedures of membership vote.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 708a.109, § 708a.109 Other regulatory oversight of methods and procedures of membership vote, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48523
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Full text
The federal or state regulatory agency that will have jurisdiction over the financial institution after conversion must verify the membership vote and may direct that a new vote be taken, if it disapproves of the methods by which the membership vote was taken or the procedures applicable to the membership vote.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.