If the commissioner finds that a credit union is insolvent when the commissioner receives notice of its intention to dissolve, or if a credit union in the process of voluntary dissolution is not liquidated completely and its assets distributed within three years after the special meeting at which the dissolution was voted, the commissioner shall take possession of the books, records, and assets of the union and proceed to complete the liquidation in the manner provided in this title for the liquidation of closed banks.
N.D. Cent. Code § 6-06-33
Liquidation by the commissioner
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.