Arizona Arizona Revised Statutes

§ 6-584 — Voluntary dissolution

ARS § 6-584Title 6. Banks and Financial Institutions · Ch. 4. CREDIT UNIONS · Art. 11. Dissolutions

Statute text

6-584. Voluntary dissolution A. A credit union may elect to dissolve voluntarily and terminate its affairs in the following manner: 1. The board of directors shall adopt a resolution recommending that the credit union be dissolved voluntarily, naming a liquidating agent adequately bondable, and directing that the question of a dissolution be submitted to a regular or special meeting of the members. 2. At a regular or special meeting called for such purpose where the notice of such purpose is contained in the call, the affirmative vote of a majority of the members of the credit union present shall be required to dissolve the credit union. 3. On the adoption of a resolution to dissolve, a statement of intent to dissolve shall be executed in triplicate by the president or vice president, and attested by its secretary, which shall set forth:

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