Determination by board - Surrender of charter

When section 13-03-05-01 has been completed, the board, by order shall approve or disapprove the proposed merger, within thirty days after receipt of the application or within thirty days after the date of hearing if a hearing is conducted, and so advise the credit unions involved of its decision. If approved, the merging credit union shall surrender its charter to the commissioner, who shall forward it to the secretary of state for cancellation. History: Effective August 1, 1993. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-36, 6-06-37