Form FIS1057 Application for Permission to Merge a Credit Union With Another Credit Union - Michigan

What Is Form FIS1057?

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 FIS1057?A: Form FIS1057 is an application for permission to merge a credit union with another credit union in Michigan.

Q: Who can use Form FIS1057?A: Credit unions in Michigan that want to merge with another credit union must use Form FIS1057.

Q: What is the purpose of Form FIS1057?A: The purpose of Form FIS1057 is to obtain permission from the Michigan Department of Insurance and Financial Services to merge one credit union with another credit union.

Q: What are the requirements for merging credit unions in Michigan?A: To merge credit unions in Michigan, certain requirements must be met, including obtaining approval from the Michigan Department of Insurance and Financial Services and following the applicable laws and regulations.

Q: How long does it take to process Form FIS1057?A: The processing time for Form FIS1057 varies. It is recommended to contact the Michigan Department of Insurance and Financial Services for more information.

Q: What information is required on Form FIS1057?A: Form FIS1057 requires information such as the names and addresses of the merging credit unions, the proposed name and location of the merged credit union, and financial information of the merging credit unions.

Q: What happens after submitting Form FIS1057?A: After submitting Form FIS1057, the Michigan Department of Insurance and Financial Services will review the application and make a decision on whether to grant permission for the credit union merger.