Nevada Revised Statutes 672.835 v2 – Involuntary dissolution: Appointment of liquidating agent for credit union closed by bankruptcy or insolvency
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If a credit union is closed because of bankruptcy or insolvency, the Commissioner may appoint a liquidating agent.
Terms Used In Nevada Revised Statutes 672.835 v2
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.