FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER I—GENERAL PROVISIONS
Approval of certificate; assets and obligations of applicant credit union
12 U.S.C. § 1774
Title12 — Banks and Banking
ChapterSUBCHAPTER I—GENERAL PROVISIONS
This text of 12 U.S.C. § 1774 (Approval of certificate; assets and obligations of applicant credit union) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 1774.
Text
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.
Free access — add to your briefcase to read the full text and ask questions with AI
Source Credit
History
(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.)
Editorial Notes
Editorial Notes
Codification
Section was not enacted as part of the Federal Credit Union Act which comprises this chapter.
Statutory Notes and Related Subsidiaries
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.
Codification
Section was not enacted as part of the Federal Credit Union Act which comprises this chapter.
Statutory Notes and Related Subsidiaries
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.
Cite This Page — Counsel Stack
Bluebook (online)
12 U.S.C. § 1774, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/1774.