370.158. Court may approve or modify reorganization or merger plan. - Missouri Statutes

Court may approve or modify reorganization or merger plan.

370.158. 1. The director may submit to the court forapproval, modification or disapproval any proposed reorganizationor merger of the credit union with another credit union.

2. The court may submit the proposed reorganization ormerger to the members for approval or disapproval; but the actionof the members thereupon shall be only advisory to and notbinding upon the court. The court may direct and cause thedirector to do any and all things necessary to finally completeany sale of assets, reorganization or merger.

(L. 1967 p. 509)