Current through Bulletin 2024-23, December 1, 2024
Section R337-2-3 - Conversion Application(1) The applicant must file an application on a form acceptable to the department.(2) As part of the application the following documents or information must be provided:(a) Year to date financial statements for the most recent month end:(b) Delinquent loan schedule annotated to reflect collection problems as of the most recent month end;(c) Explanation and appropriate documents relative to any changes in insurance of member accounts;(d) Resolution of the board of directors approving the proposed conversion;(e) Sample of the Notice of Special Meeting of the Members;(f) Sample of the ballot to be sent to members; and(g) Approval of the conversion from the National Credit Union Administration.Utah Admin. Code R337-2-3