Form FIS1062 Application for Conversion to a State-Chartered Credit Union - Michigan

What Is Form FIS1062?

This is a legal form that was released by the Michigan Department of Insurance and Financial Services - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form FIS1062?A: Form FIS1062 is an application for conversion to a state-chartered credit union in Michigan.

Q: Who can use Form FIS1062?A: This form can be used by credit unions in Michigan that wish to convert to a state-chartered credit union.

Q: What is a state-chartered credit union?A: A state-chartered credit union is a credit union that is regulated and supervised by the state in which it operates, rather than by the federal government.

Q: Why would a credit union want to convert to a state-chartered credit union?A: There may be various reasons for a credit union to consider converting to a state-chartered credit union, such as potential advantages in terms of regulatory oversight and operational flexibility.

Q: Are there any fees associated with submitting Form FIS1062?A: There may be fees associated with the application process, which can vary depending on the specific circumstances. It is advisable to review the instructions and guidelines provided with the form or consult with the Michigan Department of Insurance and Financial Services for more information.

Q: What documents need to be submitted with Form FIS1062?A: The specific documents required may vary, but typically include financial statements, a conversion plan, and any other supporting documentation as outlined in the form's instructions.

Q: Are there any deadlines for submitting Form FIS1062?A: Specific deadlines for submitting the form may vary and should be confirmed with the Michigan Department of Insurance and Financial Services.

Q: Who can I contact for more information about Form FIS1062?A: For more information about Form FIS1062 and the conversion process, it is advisable to contact the Michigan Department of Insurance and Financial Services directly.