TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 383-B DEPOSITORY BANK ACT
ARTICLE 8 Conversion of Federal Banks and State Depository Banks
Section 383-B:8-804
383-B:8-804 Conversion of a Mutual Bank or Mutual Bank Into a Credit Union. –
A mutual savings bank or mutual bank may convert to a credit union if the corporators of a mutual savings bank or the association members of a savings association approve the conversion by majority vote, or by a higher percentage if required by its organizational documents.