Massachusetts General Laws
Chapter 167i - Corporate Bank Transactions: Mergers, Consolidations, Purchase of Assets and Conversions
Section 10 - Conversion of Credit Union to Mutual Bank

Section 10. A credit union may convert to a mutual bank pursuant to section 80A of chapter 171. A federally-chartered credit union may convert to a mutual bank pursuant to the Federal Credit Union Act subject to the approval of the commissioner under such conditions as may be imposed by the commissioner and subsection (m) of section 80A of chapter 171.

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Structure Massachusetts General Laws

Massachusetts General Laws

Part I - Administration of the Government

Title XXII - Corporations

Chapter 167i - Corporate Bank Transactions: Mergers, Consolidations, Purchase of Assets and Conversions

Section 1 - Definitions

Section 2 - Merger or Consolidation of Mutual Banks or Thrift Institutions Into Single Mutual Bank or Thrift Institution

Section 3 - Merger or Consolidation of Stock Banks, Federally-Chartered Banks, Out-of-State Banks and Limited Purpose Trust Companies Into Single Stock Bank, Federally-Chartered Bank or Out-of-State Bank

Section 4 - Merger or Consolidation of Mutual Banks or Subsidiary Banking Institutions and Credit Unions or Federal Credit Unions Into Single Mutual Bank or Subsidiary Banking Institution

Section 5 - Expedited Consolidation or Sale of Assets of Bank Certified as Unsafe to Transact Business