Considerations for approval

In considering the application for merger, the board shall examine and consider all relevant factors including: 1. Whether proper notification has been given to all members, unless the membership meeting has been waived by the board. 2. The comments of the members of each credit union to be merged. 3. The financial condition of the continuing credit union. In the event that a merging credit union is a failing institution under North Dakota Century Code section 6-06-08.2, the board shall have the authority to waive any application requirements or considerations for approval otherwise mandated under rule. History: Effective August 1, 1993; amended effective January 1, 2013; April 1, 2022. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-36, 6-06-37, 6-06-08.2