<?xml version='1.0' encoding='utf-8'?>
<section article="gfi" article_name="Financial Institutions" number="6-806" title_number="6" title_name="Credit Unions" subtitle_number="8" subtitle_name="Extraordinary Actions">
  <text>With the approval of the Commissioner, a credit union may purchase the assets or assume the liabilities of another credit union whether or not the credit unions have the same field of membership type, if:</text>
  <level label="1">
    <text>The other credit union is insolvent or likely to become insolvent;</text>
  </level>
  <level label="2">
    <text>The purchase or assumption is in the best interest of the membership of the other credit union; and</text>
  </level>
  <level label="3">
    <text>The purchase or assumption will not adversely affect the financial condition of the credit union that makes the purchase or assumption.</text>
  </level>
</section>
