04 NCAC 06C .0902         SUCCESSOR CUSTODIAN

The plan shall provide for the appointment of a successor custodian by a person, committee, corporation or organization other than the Credit Union or any person acting in his capacity as a director, employee or agent of the Credit Union, upon notice from the Credit Union or the Administrator that the Credit Union is unwilling or unable to continue to act as custodian.

History Note:        Authority G.S. 54‑109.12; 54‑109.21(21);

Eff. February 1, 1976;

Readopted Eff. April 4, 1978;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.