Pennsylvania § 1301 Dissolution authorized

Pennsylvania Statutes

§ 1301 — Dissolution authorized

Pennsylvania § 1301

Title 17CREDIT UNIONS

Ch. 13DISSOLUTION

This text of Pennsylvania § 1301 (Dissolution authorized) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

17 Pa. Cons. Stat. § 1301 (2026).

Text

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.

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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.