12 CFR 546.4 - Voluntary dissolution.
A Federal savings association's board of directors may propose a plan for dissolution of the association. The plan may provide for either:
(a) Appointment of the Federal Deposit Insurance Corporation (under section 5 of the Act and section 11 of the Federal Deposit Insurance Act, as amended or section 21A of the Federal Home Loan Bank Act, as amended) as receiver for the purpose of liquidation;
(b) Transfer of all the association's assets to another association or home-financing institutions under Federal or State charter either for cash sufficient to pay all obligations of the association and retire all outstanding accounts or in exchange for that association's payment of all the association's outstanding obligations and issuance of share accounts or other evidence of interest to the association's members on a pro rata basis; or
(c) Dissolution in a manner proposed by the directors which they consider best for all concerned.
Title 12 published on 2015-12-05.
No entries appear in the Federal Register after this date, for 12 CFR Part 546.