R337-2-3. Conversion Application

(1) The applicant must file an application on a form acceptable to the department. (2) As part of the application the following documents or information must be provided: (a) Year to date financial statements for the most recent month end: (b) Delinquent loan schedule annotated to reflect collection problems as of the most recent month end; (c) Explanation and appropriate documents relative to any changes in insurance of member accounts; (d) Resolution of the board of directors approving the proposed conversion; (e) Sample of the Notice of Special Meeting of the Members; (f) Sample of the ballot to be sent to members; and (g) Approval of the conversion from the National Credit Union Administration.