Massachusetts H3933 amends the Massachusetts Credit Union Share Insurance Corporation to allow conversions between credit unions, mutual savings.

Massachusetts H3933 amends the Massachusetts Credit Union Share Insurance Corporation to allow conversions between credit unions, mutual savings banks, and co-operative banks. The bill outlines the process for such conversions, including the need for approval from the commissioner and the members of the converting institution. It also details the requirements for the conversion plan and information statement, which must be disclosed to members.

Massachusetts H3933 amends the Massachusetts Credit Union Share Insurance Corporation to allow conversions between credit unions, mutual savings.

Massachusetts H3933 amends the Massachusetts Credit Union Share Insurance Corporation to allow conversions between credit unions, mutual savings banks, and co-operative banks. The bill outlines the process for such conversions, including the need for approval from the commissioner and the members of the converting institution. It also details the requirements for the conversion plan and information statement, which must be disclosed to members.