2016 US Code
Title 12 - Banks and Banking
Chapter 14 - Federal Credit Unions
Subchapter I - General Provisions
Sec. 1774 - Approval of certificate; assets and obligations of applicant credit union
| 12 U.S.C. § 1774 (2016) |
| §1774. Approval of certificate; assets and obligations of applicant credit union |
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The Board shall approve any such organization certificate meeting such requirements. Upon such approval, the applicant credit union shall become a Federal credit union, and shall be vested with all of the assets and shall continue responsible for all of the obligations of such applicant credit union to the same extent as though the conversion had not taken place. |
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(Pub. L. 88–395, §2, Aug. 1, 1964, 78 Stat. 377; Pub. L. 91–206, §3, Mar. 10, 1970, 84 Stat. 49; Pub. L. 95–630, title V, §501, Nov. 10, 1978, 92 Stat. 3680.) |
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CODIFICATION
Section was not enacted as part of the Federal Credit Union Act which comprises this chapter. TRANSFER OF FUNCTIONS"Board", meaning the National Credit Union Administration Board, substituted in text for "Director", meaning Director of Bureau of Federal Credit Unions, pursuant to section 3 of Pub. L. 91–206 and section 501 of Pub. L. 95–630 [12 U.S.C. 1752a] which transferred functions of Bureau of Federal Credit Unions, and Director thereof, to National Credit Union Administration and vested authority for management of Administration in National Credit Union Administration Board. |
| United States Code, 2012 Edition, Supplement 4, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 14 - FEDERAL CREDIT UNIONS SUBCHAPTER I - GENERAL PROVISIONS Sec. 1774 - Approval of certificate; assets and obligations of applicant credit union |
| section 1774 |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 78 Stat. 377 84 Stat. 49 92 Stat. 3680 |
| Public Law 88-395, Public Law 91-206, Public Law 95-630 |
