(1)__The name and address of the credit union;

(2)__The date dissolution was ordered;

(3)__A statement of how dissolution was ordered;

(4)__A report of liquidating activities; and

(5)__Such other information as the superintendent may require.

Dissolution is effective upon the superintendent's acceptance of articles of dissolution for filing with the bureau after recording.__At that time the credit union ceases to exist, except for the purposes of suits or other proceedings provided for by law.

§871-B.__Applicability of chapter

Notwithstanding any other provisions of law, the provisions of this chapter apply and supersede the provisions of laws relating to the dissolution, merger and conversion of credit unions organized under the laws of this State.

Sec. 43. 9-B MRSA §874, as amended by PL 1985, c. 647, §10, is further amended to read:

§874. Conversion: State to federal charter

A credit union organized under the general or special laws of this State may convert to a federally-chartered federally chartered credit union. Approval of the members of the credit union for the conversion shall must be obtained in the manner set forth in section 342, subsection 3 6. Upon obtaining such the approval, the credit union shall provide to the superintendent all necessary approvals and charters required by the National Credit Union Administration and all federal laws and regulations applicable thereto to the conversion. The superintendent shall notify the Secretary of State that the conversion has been effected. A copy of the approval or charter shall must accompany the notification.

SUMMARY

The bill makes technical changes to several definitions in the Maine banking laws.