12 CFR 741.7

§ 741.7 Conversion to a state-chartered credit union.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 741.7, § 741.7 Conversion to a state-chartered credit union, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48727
Permanent ID: ys:prov:48727@1
SHA-256: 36ac750d1f4eea11eb505c2abe3d6ab15fcc620b6a31c516f3a27e2756631b02

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Full text

Any federal credit union that petitions to convert to a state-chartered federally insured credit union is required to apply to the Regional Director for continued insurance of its accounts and meet the requirements as stated in the Act and this part. If the application for continued insurance is not approved, such insurance will terminate subject to the conditions set forth in section 206(d) of the Act.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.