ND SB2092

Amends Section 6-01-04.1 to expand removal authority for financial institution officers, directors, and employees to include any entity licensed by the Department of Financial Institutions, and changes order effectiveness from service to issuance.

Creates new Section 6-07.2 establishing procedures for voluntary credit union liquidation requiring approval by majority of board of directors and majority of members, either through member meeting with 10 days' notice or written member statement.

Assigns board of directors responsibility for asset conservation, expedited liquidation, equitable distribution to members, surety bonding of fund handlers, and appointment of record custodian for five years after charter cancellation.

Requires detailed notification to commissioner and national credit union administration within three days of board decision and within three days of member vote, including reasons, financial statements, and written liquidation plan to be completed within one year.

Repeals Chapter 6-06.1 of the North Dakota Century Code, replacing the prior voluntary liquidation framework with the new consolidated procedures in Chapter 6-07.2.