Utah Administrative Code
Topic - Financial Institutions
Title R337 - Credit Unions
Rule R337-2 - Conversion from a Federal to a State-Chartered Credit Union
Section R337-2-3 - Conversion Application
Universal Citation: UT Admin Code R 337-2-3
Current through Bulletin 2024-06, March 15, 2024
(1) The applicant must file an application on a form acceptable to the department.
(2) As part of the application the following documents or information must be provided:
(a) Year to date financial statements for the
most recent month end:
(b)
Delinquent loan schedule annotated to reflect collection problems as of the
most recent month end;
(c)
Explanation and appropriate documents relative to any changes in insurance of
member accounts;
(d) Resolution of
the board of directors approving the proposed conversion;
(e) Sample of the Notice of Special Meeting
of the Members;
(f) Sample of the
ballot to be sent to members; and
(g) Approval of the conversion from the
National Credit Union Administration.
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