Section 31.12.707. Completion of receivership—Merger, purchase, or liquidation—Secretary of state.

Latest version.

Upon the completion of a receivership through merger, purchase of assets and assumption of liabilities, or liquidation, the director shall terminate the credit union's authority to conduct business and certify that fact to the secretary of state. Upon certification, the credit union shall cease to exist and the secretary of state shall note that fact upon his or her records.

[ 1997 c 397 § 81.]

1997 c 397 § 81.

                    
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