Sec.36a-136-35. Termination of the conversion

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The governing board of the converting institution may terminate the conversion at any time, provided in the case of a mutual savings and loan association: (1) The depositors may terminate the conversion by failing to approve the conversion at the depositors' meeting, (2) the converting institution may terminate the conversion before the depositors' meeting, or (3) the converting institution may terminate the conversion after the depositors' meeting only if the commissioner concurs.

(Adopted effective September 7, 2007)

                    
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