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Pennsylvania Statutes Title 17 Pa.C.S.A. Credit Unions § 1305. Articles of dissolution

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) General rule.--When, in the opinion of the department, the liquidation of a credit union is complete and its affairs are fully settled, the department shall execute and file in the Department of State articles of dissolution, which shall set forth:

(1) The name of the credit union.

(2) The statute under which the credit union was incorporated and the date of incorporation.

(3) A statement that the liquidation of the credit union is complete and its affairs are fully settled.

(b) Filing procedures.--A certificate or statement provided for by 15 Pa.C.S. § 139 (relating to tax clearance of certain fundamental transactions) shall not be required and the Department of State shall not charge a fee in connection with the filing of articles of dissolution under this section. See 15 Pa.C.S. § 134 (relating to docketing statement).

(c) Effect.--Upon the filing of the articles of dissolution in the Department of State, the existence of the credit union shall cease.

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Cite this article: FindLaw.com - Pennsylvania Statutes Title 17 Pa.C.S.A. Credit Unions § 1305. Articles of dissolution - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-17-pacsa-credit-unions/pa-csa-sect-17-1305/

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