(1) A credit union chartered under the laws of this state may be converted to a credit
union chartered under the laws of any other state or under the laws of the United
States, subject to regulations issued by the department of administration.
(2) A credit union chartered under the laws of the United States or of any other state
may convert to a credit union chartered under the laws of this state. To effect a conversion, a credit union shall comply with all the requirements of the
jurisdiction under which it was originally chartered and the requirements of the department
and file proof of compliance with the department.
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