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the receiver may, at any time, and from time to time, prior to | | the payment in full of all claims of a category or class with | | higher priority, make such distributions to claimants in | | priority categories described in paragraph F, subparagraph | | (2), divisions (a) to (e) as the receiver believes are | | reasonably necessary to conduct the liquidation, as long as | | the receiver determines that adequate funds exist or will be | | recovered during the liquidation to pay in full all claims of | | any higher priority.__If a surplus remains after making | | distribution in full on all allowed claims described in | | paragraph F, subparagraph (2), divisions (a) to (i), the | | surplus must be distributed pro rata to the credit union's | | members. |
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| | | J.__After all debts, liabilities and obligations of the | | credit union are paid or discharged or otherwise adequately | | provided for, the receiver shall file articles of | | dissolution with the Secretary of State.__Articles of | | dissolution must set forth: |
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| | | (1)__The name and address of the credit union; |
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| | | (2)__The date dissolution was ordered; |
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| | | (3)__A statement of how dissolution was ordered; |
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| | | (4)__A report of liquidating activities; and |
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| | | (5)__Such other information as the superintendent may | | require. |
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| | | Dissolution is effective upon the superintendent's | | acceptance of articles of dissolution for filing with the | | bureau.__At that time the credit union ceases to exist, | | except for the purposes of suits or other proceedings | | provided for by law. |
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| | | §871-B.__Applicability of chapter |
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| | | 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. |
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| | | Sec. 43. 9-B MRSA §874, as amended by PL 1985, c. 647, §10, is | | further amended to read: |
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| | | §874. Conversion: State to federal charter |
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