N.D. Admin. Code 13-03-05-04

Current through Supplement No. 394, October, 2024

Section 13-03-05-04 - Considerations for approval

In considering the application for merger, the board shall examine and consider all relevant factors including:

1. Whether proper notification has been given to all members, unless the membership meeting has been waived by the board.

2. The comments of the members of each credit union to be merged.

3. The financial condition of the continuing credit union.

In the event that a merging credit union is a failing institution under North Dakota Century Code section 6-06-08.2, the board shall have the authority to waive any application requirements or considerations for approval otherwise mandated under rule.

N.D. Admin Code 13-03-05-04

Effective August 1, 1993; amended effective January 1, 2013.

Amended by Administrative Rules Supplement 2022-384, April 2022, effective 4/1/2022.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-36, 6-06-37, 6-06-08.2