17-2223.   Incorporation in this state of federal credit union orcredit union organized in another state; procedure; name; effect ofgranting charter.Any credit union organized under the laws of any other state or thegovernment of the United States may apply for articles of incorporationunder K.S.A. 17-2201, and actsamendatory thereof and supplemental thereto by any seven persons who aremembers of said credit union and who are residents of the state ofKansas taking the steps provided for under said section. Uponapplication duly made as provided under said section, said credit unionmay be granted a charter under the laws of this state subject torevocation in event proper steps are not timely taken to surrender thecharter of the other jurisdiction. The name of the credit union may bechanged to comply with law. The granting of a corporate charter to suchcredit union shall be for all purposes a continuation of the same creditunion except under a different name and a changed jurisdiction. A formaltransfer of assets and liabilities shall be unnecessary but shall followas a matter of law upon the compliance with this section.

      History:   L. 1961, ch. 120, § 2; June 30.