2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 21 - IDAHO CREDIT UNION ACT
Section 26-2141 - SUSPENSION.
Upon receipt of such suspension notice, the credit union shall immediately cease all operations, except for receipt of loan payments. The directors of the credit union shall then file with the director a reply to the suspension notice, within twenty (20) days, request a hearing to present a plan of corrective actions proposed if they desire to continue operations, or to request that the credit union be declared insolvent and a liquidating agent appointed. If the credit union fails to answer the suspension notice or request a hearing with the director, said director may then revoke the credit union's charter, appoint a liquidating agent and liquidate the credit union in accordance with this chapter.
History:
[26-2141, added 1977, ch. 213, sec. 2, p. 605.]
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