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2023 Pennsylvania Consolidated & Unconsolidated Statutes
Title 17 - CREDIT UNIONS
Chapter 13 - Dissolution
Section 1301 - Dissolution authorized
Universal Citation:
17 PA Cons Stat § 1301 (2023)
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§ 1301. Dissolution authorized. Any credit union may elect to dissolve voluntarily and wind up its affairs in the manner provided in this chapter. However, if it shall appear to the department, upon an examination of the business, assets and affairs of the credit union, that its assets will probably be insufficient to pay in full its members and creditors, it shall take possession of the business and property of the credit union and retain possession until its affairs are finally liquidated. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)
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