12 C.F.R. · Banks and Banking
12 C.F.R. § 192.475

Definition of liquidation.

Title 12 C.F.R. ● ACTIVE Primary Source
Regulatory Text

12 C.F.R. § 192.475 — Definition of liquidation.

§ 192.475 Definition of liquidation. (a) In general. A liquidation is a sale of a savings association's assets and settlement of its liabilities with the intent to cease operations and close. Upon liquidation, a savings association must return its charter to the governmental agency that issued it. The government agency must cancel the savings association's charter. (b) Other transactions. A merger, consolidation, or similar combination or transaction with another depository institution, is not a liquidation. If a savings association is involved in such a transaction, the surviving institution must assume the liquidation account.

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12 C.F.R. § 192.475
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The regulatory text of 12 C.F.R. § 192.475 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
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