District of Columbia Code Division V. Local Business Affairs § 26-510.04. Involuntary merger of credit union.

(1) Initiate the involuntary merger of a District credit union that is insolvent or is in danger of insolvency with any other District credit union;

(2) If authorized under, and to the extent consistent with, applicable federal or state law:

(3) Authorize a financial institution whose deposits or accounts are insured to purchase any of the assets of, or to assume any of the liabilities of, a District credit union that is insolvent or in danger of insolvency; except, that before exercising this authority, the Commissioner shall attempt to effect a merger with, or purchase and assumption, by another District credit union, federal credit union, or foreign credit union as provided in paragraphs (1) and (2) of this subsection.