Wisconsin Administrative Code
Department of Financial Institutions
DFI-CU 51-75 - Department of Financial Institutions-Credit Unions
Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties
Section DFI-CU 60.06 - Credit union dissolution
Universal Citation: WI Admin Code ยง DFI-CU 60.06
Current through February 26,
2024
The liability for dividends declared by the board of directors on certificate of deposit accounts and passbook savings accounts shall terminate without penalty to the credit union upon the credit union entering an involuntary dissolution procedure, or if the director shall take possession of the credit union under s. 186.235(11), Stats. Upon dissolution, the director shall determine the priority of payout of the various classifications of savings.
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