Statutes, codes, and regulations
Wisconsin Administrative Code
Agency - Department of Financial InstitutionsDepartment of Financial Institutions-Credit Unions
Chapter DFI-CU 60 - Savings, dividend periods and early withdrawal penalties
Section DFI-CU 60.06 - Credit union dissolution

Wis. Admin. Code Department of Financial Institutions DFI-CU 60.06

Download
PDF
Current through November 25, 2024
Section DFI-CU 60.06 - Credit union dissolution

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.

Wis. Admin. Code Department of Financial Institutions DFI-CU 60.06

CR Register, April, 1982, No. 316, eff. 5-1-82; correction made under s. 13.93(2m) (b) 7, Stats., Register, June, 2000, No. 534; correction made under s. 13.93(2m) (b) 7, Stats., Register February 2004 No. 578.