Any credit union operating under this chapter may convert to a federally chartered credit union and any federally chartered credit union operating in this state may convert to a credit union organized under this chapter upon compliance with applicable state and federal laws, rules, and regulations.

Terms Used In Ohio Code 1733.341

  • Credit union: means a corporation organized and qualified as such under this chapter. See Ohio Code 1733.01
  • Regulations: includes the code of regulations of a credit union and any amendments thereto or an amended code of regulations and any amendments thereto. See Ohio Code 1733.01
  • State: means the United States, any state, territory, insular possession, or other political subdivision of the United States, including the District of Columbia. See Ohio Code 1733.01
  • Superintendent of credit unions: means the "division of financial institutions" the "superintendent of financial institutions of this state" or the "deputy superintendent for credit unions"; and whenever the context requires it, may be read as "director of commerce. See Ohio Code 1733.01

Any production credit association organized under the “Farm Credit Act of 1971,” 85 Stat. 583, 12 U.S.C.A. 2091 to 2097, may convert to a credit union organized under this chapter upon compliance with applicable state and federal laws and regulations and with the approval of the superintendent of credit unions.

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